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Capital Market Development Issues Discussed with EBRD Representatives

Dimitri Kumsishvili, Georgia’s first vice Prime Minister and Minister of Finance, and Koba Gvenetadze, president of National Bank of Georgia (NBG), discussed capital market development issues with representatives of EBRD.

The meeting was held in Washington, the USA, as part of the annual meeting of IMF and World Bank.

At the meeting the parties discussed state strategy for capital market development. The mentioned document was prepared recently and it calls for discussing several priority components, including an improvement of legislative and technical basis for the period, when Georgia will start reformation of the pension system. Moreover, at the beginning of 2018 Government of Georgia will launch deposits insurance system.

The parties discussed Georgia’s capital market, made accent on the measures for the capital market reformation.

The Georgian Party discussed cooperation as part of the mentioned reformation with EBRD representatives and noted that the development is of crucial importance for creating alternative financial sources.