Economy

Georgian Railway to Refinance Eurobonds of USD 500 million Prematurely

Georgian Railway is expected to refinance Eurobonds of USD 500 million prematurely. According to Standard and Poor’s, the company management has already launched negotiations with the investors and partner banks.

Giorgi Khanishvili: Government Spends GEL 2.5 million on Designing Imereti AgroZone Project

Imereti AgroZone has announced an interest expression for participating in the greenhouse cluster development project.

EIB immediate Covid-19 Response Support to the Georgian MSME Sector Reaches Milestone with Additional Support to Liberty Bank

The EU bank will extend Covid-measures to the existing credit line at the Liberty Bank for a total of €17.5 million, including a €2.5 million multi-currency top-up.

January Sees 11.5% Downturn in Georgian Economy

According to Geostat, the national statistics service of Georgia, in January 2021, the Georgian economy declined by 11.5%.

Chinese Investor May Suspend Plastic Recycling Pant Project in Kutaisi FIZ

The Government of Georgia plans to adopt the law that may hinder the construction of a plastics recycling plant in Kutaisi Free Industrial Zone (FIZ), Soso Nibladze, head of Kutaisi FIZ Hualing told Business Partner.

Japan Plans to Explore Georgian Agrarian Potential

Chairman of the Georgian Parliamentary Committee on Agrarian Issues Nino Tsilosani met with the Ambassador Extraordinary and Plenipotentiary of Japan to Georgia Akira Imamura.

Screen Houses Established to Preserve Endemic Georgian Varieties of Grapes

Two screen houses with the highest standards have been established in Georgia by the European Union and the Food and Agriculture Organisation under the EU4Business programme.

Natalia Chubinidze Answers Questions about Employment of Georgia Citizens in Germany

In her interview with Business Partner, migration management specialist Natalia Chubinidze appraised the Georgia-Germany legal program for employment of Georgian citizens in the agriculture sector of Georgia for a period of 1-3 months.

Fitch Places Crystal on Rating Watch Negative on Refinancing Risk

The rating action reflects elevated refinancing risk, as new funding from foreign lenders, a key source for principal repayments due in 2Q21 and 3Q21, remains difficult to attract cost-effectively in current conditions.