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Tag Archives: EBRD

EBRD Named TBC Bank most Active International Financing Bank in Georgia

The European Bank for Reconstruction and Development (EBRD) has once again named TBC Bank once again the most active bank in Georgia in terms of international trade financing. TBC Banks has received mentioned award for the fourth time.  The annual award ceremony was held in Jordan, where EBRD representatives hosted …

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EBRD: No Financial Aid will Be Allocated to Rustavi Azot

EBRD regional director Bruno Balvanera says that no financial aid will be allocated to Rustavi Azot. “We were discussing the issue of financing Rustavi Azot. However, taking into account the earlier prices of fertilizers, we have decided not to prolong financial aid. We have no plans to provide further support …

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EBRD President: Georgia is Improving Investment Climate

EBRD

Minster of Finance Mamuka Bakhtadze has met with EBRD President Suma Chakrabarti as part of his visit to Great Britain. The parties positively appraised EBRD’s performance in Georgia and discussed the ongoing and planned projects. The parties made emphasis on such priorities as: development of municipal infrastructure, the banking sector, …

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EU-backed Fashion House Pioneers Local Clothing Industry

On 5 February, EU High Representative Federica Mogherini welcomed Georgia’s Prime Minister Giorgi Kvirikashvili to Brussels to take stock of the progress made on the Association Agreement between Georgia and the EU. A key point on the agenda was the significant increase in Georgian exports to the EU over the …

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European Bank to Finance Enguri HPP Modernization Project

European Bank for Reconstruction and Development (EBRD) backs the project for modernization and rehabilitation of Enguri HPP. The Bank has already allocated 28 million EUR sovereign loan to LLC Enguri HPP for the project implementation. This loan is to ensure safe operation of the facility, increase electricity generation and alleviate …

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EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

On January 5 Government of Georgia and European Bank for Reconstruction and Development (EBRD) have signed an agreement for financing Enguri HPP Rehabilitation Project – Sustainable Development for Climate Conditions. The document was signed by Minster of Finance Mamuka Bakhtadze and EBRD regional director in the Caucasus, Moldova and Belarus …

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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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