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EBRD to Issue New GEL-denominated Securities

European Bank for Reconstruction and Development (EBRD) plans to issue GEL-denominated securities of several tens of millions of GEL with the aim to credit exports products manufacturing and to develop domestic capital market through Georgia-based commercial banks as part of deep and comprehensive trade agreement with EU.

This issue and other ongoing and future projects were discussed by Georgian Finance Minister Dimitri Kumsishvili and EBRD managing director in Ukraine, Caucasus, Moldova and Belarus Francis Malije.

Georgian ranks second in terms of EBRD investments per capita, the meeting participants said. The parties have positively appraised the bank activities in Georgia and expressed support to  ongoing reforms under four-clause plan of Government of Georgia.