Georgian Pension Agency Invests 150 Million GEL in EBRD Bonds

The Georgian Pension Agency has invested 150 million GEL in bonds issued by the European Bank for Reconstruction and Development (EBRD) under its Global Medium Term Bonds (GMTN) program. This five-year bond has a floating interest rate, aligning with the agency’s goal of enhancing portfolio quality and asset diversification.

"The successful completion of this historic investment improves the quality and diversity of our pension assets, supporting long-term sustainability," stated Goga Melikidze, Chief Investment Officer of the Pension Agency. "This collaboration with the EBRD also opens doors for future opportunities that will aid in the development of Georgia’s capital market."

Aziz Zhuraev, Associate Director of the EBRD Treasury, highlighted that this investment aligns with the EBRD’s strategy to lessen local economies' dependence on foreign currency loans.

As of November 6, 2024, the Georgian Pension Agency manages 5.8 billion GEL in pension savings for 1.4 million citizens. Currently, 80% of these assets are held in GEL financial instruments, while 20% are in foreign currency investments, including international stock indices.