Tbilisi, Georgia, Jan.16
By Nana Kirtzkhalia - Trend:
President of the National Bank of Georgia Giorgi Kadagidze met with Managing Director of the European Bank for Reconstruction and Development (EBRD) Olivier Descamps on Jan.15.
The main purpose of the visit of the European Bank's representative to Georgia was to become familiar with the current economic situation in the country.
Giorgi Kadagidze talked about the situation in the banking sector. The parties also discussed the ongoing and planned projects in Georgia financed by the European Bank for Reconstruction and Development. Particular attention was paid to the development of the securities market.
As is known, the European bank is going to issue corporate bonds denominated in lari in the local market in the near future. This will be the first securities in Georgia issued in the national currency by an international financial institution that will promote the development of the capital markets and create a reduction in interest rates.
To date, the EBRD has invested some 1.8 billion euros in around 158 projects in Georgia, including banking and finance sectors, energy, agribusiness and industry, as well as mobilised three billion euros from other financial sources.
Translated by L.Z.
Edited by S.M.