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One Billion USD Capital Chinese Bank to Launch in Georgia

The official ceremony of signing declaration, concerning founding Georgian development bank was held in Pekin today where Belt and Road Forum For International Cooperation was organized.

The founders of the bank are largest Chinese corporations: “CEFC China Energy Company Limited’’ and the company „Eurasian Invest LLC”.

The declaration was signed by Vice Prime Minister, Dimitri Kumsishvili. According to the declaration, both companies took obligation to create new commercial banks in Georgia. Kumsishvili declared that they have already addressed to National Bank of Georgia to discuss relevant official procedures.

“Competition in the bank sector is crucial for the development of our bank system and economy”- declared Vice Prime Minster, Dimitri Kumsishvili after he signed the declaration. According to him, it is important that one more large bank in Georgia can contribute to the development of private sector.