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Finance Minister Signs 27 million EUR Credit Agreement with EBRD

Finance Minister Signs 27 million EUR Credit Agreement with EBRD

On May 11-12 Georgian Finance Minister Nodar Khaduri is attending the annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD) in London.

On May 11, the Georgian Finance Minister will take part in unveiling the meeting of EBRD board of directors and a plenary session.

The Georgian Finance Minister will also hold bilateral meetings, including with the EBRD President Sir Suma Chakrabarti.

On May 11 the Georgian Finance Minster and the EBRD President will sign a Georgia-EBRD credit and loan agreements, under which EBRD will allocate 27 million EUR financial component for Tbilisi Bus Project implementation, while the Eastern Europe Energy Efficiency and Environmental Partnership Fund will allot 7 million EUR grant.

The project calls for purchasing 150-200 new buses with ecological clean gas engines for Tbilisi municipality. The buses will be adapted for disabled bodies.

As part of his visit, the Georgian Finance Minister has met with Matt Malloy, director for the European and Eurasia Department of the USA Treasury. The parties discussed cooperation and future perspectives between the Georgian Finance Ministry and the USA Treasury.

The Georgian Finance Minister will also meet with representatives of OPEC, OFID, NEFCO,  Moody’s and Fitch Ratings.