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Tag Archives: ADB

ADB, Georgia Sign Loan for Tbilisi Metro Improvement Project

Last week The Asian Development Bank (ADB) signed a $14.27 million loan agreement with the Government of Georgia to upgrade and improve the Tbilisi metro, which currently benefits over 300,000 commuters daily. “The project will help meet the growing demand for reliable, safe, and efficient sustainable transport—a high priority of …

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Georgia’s External Debt Rises by 0.545bn USD Year on Year

Georgia’s external liabilities are growing. Over the past year Georgia’s foreign liabilities rose by 0.545bln USD and equaled to 5.01bln USD as of October 31, 2017. According to Ministry of Finance, monthly reports have recorded a slight contraction in debts, down from 5.005bln USD as of September 2017. The figure …

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NenskraHES Project will Continue at an Accelerated Pace

The Partnership Fund discussed construction of Nenskra Hydroelectric Power Plant at the meeting held between the Executive Director of the Fund and delegation of South Korean K-Water. Von Cheol Park, Vice-President of K-Water, Hiang Chin Kain, General Manager of Business Department and General Manager of Nenskra Hydro Business Division are …

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Nikoloz Gagua: ADB’s Support is Important in Terms of Reform Implementation

Nikoloz Gagua: ADB’s Support is Important in Terms of Reform Implementation

It is important that the Asian Development Bank is implementing reforms in Georgia – Nikoloz Gagua, Deputy Minister of Finance saidafter meeting with ADB CEO Matthew Fox. According to him, the Bank’s involvement in theconstruction of the East-West Express Highway, namely the most difficult section of Rikoti,is particularly noteworthy. “The …

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ADB Names TBC Bank as the Best Bank in Trade Financing

 Asian Development Bank named TBC Bank as the best partner for the third time in terms of trade financing in Georgia. The awards ceremony was held in Singapore and over 150 representatives from 17 countries attended the event. The Asian Development Bank has identified 18 best partner banks with which …

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University Underground Station Operate in Test Regime

Tbilisi’s 32rd underground station called as University operates in test regime. Municipal Development Fund told Business Course that the underground station started operation in test regime in late July and the regime will last up to early September. The process is controlled by Georgian and invited specialists. According to Municipal …

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ADB to Join Clinics Development Process in Georgia

Asian Development Bank (ADB) plans to participate in clinics development process in Georgia. The issue was discussed at the meeting with ADB private and public partnership (PPP) office coordinator Joseph Lim. The parties discussed clinics development potential and existing situation in the country. We are ready to participate in this …

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Asian Development Bank to Finance Dzirula-Chumateleti Highway Reconstruction

Asian Development Bank (ADB) will finance the rehabilitation of about 50 kilometer section of Dzirula-Kharagauli-Moliti-Chumateleti highway . The corresponding agreement was signed by Dimitri Kumsishvili, Minister of Finance of Georgia and ADB director general Sean O’Sullivan. The agreement calls for allocating 80 million USD financial resource. After the signing ceremony, …

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Building an Export-grade Power Distribution Grid in Georgia

New high-voltage facilities like the Marneuli 500 kV substation near Tbilisi are preparing the ground for Georgia’s planned boost in hydropower generation and green energy exports to neighboring countries. Georgia’s power development plan includes 60 energy transmission projects across the country over 10 years. Hydropower provides more than 80% of the country’s electricity. And …

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ADB Agrees to Lend $500 mln to Southern Gas Project

The Asian Development Bank (ADB) has agreed to provide a $500 million loan to Azerbaijan’s Shah Deniz 2 project, the Azeri finance ministry said on Sunday. The ADB said earlier this year it was considering lending money to Azerbaijan to help fund the second stage of development of the Shah …

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