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EBRD Affirmed Credit Line of 100 Million for Bank of Georgia

EBRD Affirmed Credit Line of 100 Million for Bank of Georgia

A credit line of 100 million has been approved to Bank of Georgia. To note, 50 million USD of the sum is envisaged for enterprise development support, 40 million USD to fund this segment separately and 10 million USD to fund women entrepreneurs operating in this segment. The funds will …

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Shuakhevi HPP is Unique Project Meeting All International Standards

Shuakhevi HPP is Unique Project Meeting All International Standards

The Shuakhevi HPP Cascade construction works will end in autumn 2016. Total investments portfolio makes up 416 million USD. The electricity generated by Shuakhevi HPP will fully remain in Georgia over the winter period, while the country will export excessive energy in summer period. At this stage, 80% of the …

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EBRD Supports Development of New Hospital in Tbilisi

The EBRD is financing the development of a new hospital in Tbilisi with a US$10 million loan to JSC Medical Corporation Evex (Evex) to establish a state-of-the-art facility in the Georgian capital. Evex has been operating since 2009 and is fully owned by Georgia Healthcare Group (GHG) PLC. Established in …

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The EBRD to fund Evex With a US$10 Million Loan

The EBRD to fund Evex With a US$10 Million Loan

The EBRD is financing the development of a new hospital in Tbilisi with a US$10 million loan to JSC Medical Corporation Evex (Evex). The EBRD financing will allow Evex to renovate and refurbish the Deka hospital in Tbilisi by mid-2017. The clinic is located in Tbilisi. European Bank regards, that the new …

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34 Million Dollars Allocated for Tbilisi Bus Renovation

34 Million Dollars Allocated for Tbilisi Bus Renovation

It is decided 34 million USD to be allocated by EBRD for Tbilisi Buses renovation in upcoming future. In London, the Minister of Finance Nodar Khaduri, and the president of European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti have signed a loan and grant agreements, under which “Tbilisi …

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EBRD Upgrades Georgia’s Economic Growth Forecast to 3.4%

EBRD Upgrades Georgia’s Economic Growth Forecast to 3.4%

The European Bank for Reconstruction and Development (EBRD) has upgraded Georgia’s economic growth forecast by 0.8 point. According to the bank’s recent prognosis, Georgia’s economy will grow by 3.4% in 2016, up from 2.6% forecast released in November 2015. The EBRD forecast is based on expectations from coming tourism season …

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Georgia’s Foreign Debts Grow by 382 million USD

Georgia’s Foreign Debts Grow by 382 million USD

Georgia’s foreign debts marked 4.422 billion USD as of May 1, 2016. According to the Finance Ministry statistics, Georgia’s foreign liabilities rose by 27 million USD month on month and by 382 million USD year on year. As of May 1, 2015, Georgia’s external debts constituted 4.04 billion USD, while …

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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. …

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EBRD Increased Economic Growth Forecast to Georgia

EBRD Increased Economic Growth Forecast to Georgia

European Bank for Reconstruction and Development (EBRD) has announced on the economic growth forecast to Georgia. According to Bruno Balvanera, EBRD’s Regional Director, exact figures will be named at the annual meeting in London by the next week. However, it already known, that forecast index will be higher comparing  to …

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What Happens to Gold and Silver Price in Georgia?

What Happens to Gold and Silver Price in Georgia?

After the Central Bank of Europe has adopted a decision to keep the refinancing rate and the President of the EBRD announced the mitigation of monetary policy, demand for dollars has increased in  the market which led to lower prices for precious metals, in particular, gold. The positive US economic …

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Georgian Ex-Finance Minister to Head EBRD Office in Moldova

Dimitri GvindadzeDimitri Gvindadze

Dimitri Gvindadze has been appointed Head of EBRD operations in Moldova and will take up his role in Chisinau on 2 May 2016. He will replace Julia Otto who has been heading the Bank’s office there since 2011. In his new position, Mr Gvindadze will lead the EBRD’s work in Moldova, focusing …

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EBRD is Ready to Assist Georgia in Capital Market Development

European Bank is Ready to Assist Georgia in Capital Market Development

“European Bank for Reconstruction and Development (EBRD) is ready to support Georgian government in the implementation of investment projects and assist the country in security market development,” Giorgi Kvirikashvili, Georgia’s Prime Minister said after meeting with  Bruno Balvanera, EBRD’s Regional Director for Caucasus, Moldova and Belarus. According to government administration, …

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