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Kumsishvili: We Do Not Manipulate with Expectations of Currency

Finance Minister: Chinese Bank will Be Commercial By 100%

Government of China will maximally support Chinese Bank to get established on Georgian market and this bank will be a commercial body by 100%, Minister of Finance of Georgia Dimitri Kumsishvili said.

“Active work is being carried out with National Bank. In China we signed a document and the company has assumed due obligations – 300 million USD primary deposit in authorized capital with perspectives for growth the capital up to 1 billion USD.

Our meeting with official bodies was very interesting. We have met with the vice Prime Minister of China and we discussed the issue of foundation of a commercial bank in Georgia. Government  should promote so huge investments from China and we received such guarantees. Government of China will provide maximum support for foundation of this bank in Georgia. This Chinese bank will be a commercial body by 100%”, Dimitri Kumsishvili noted.

We remind you that the authorized capital of the new bank is 1 billion USD. The commercial bank’s founders are major Chinese corporations – „CEFC China Energy Company Limited“ and „Eurasian Invest LLC” company.