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ADB eyes to strengthen electricity transmission sector in Georgia

Oil&Gas Materials 21 September 2021 17:45 (UTC +04:00)
ADB eyes to strengthen electricity transmission sector in Georgia

BAKU, Azerbaijan, Sept. 21

Tamilla Mammadova – Trend:

The Asian Development Bank (ADB) has approved a $100 million loan to strengthen Georgia's electricity transmission, Trend reports via the ADB.

As reported, these measures are being taken by improving the operational structure, corporate governance, and financial management of the country’s electricity transmission company and its subsidiary.

Under its Electricity Transmission Sector Reforms Program, ADB will support institutional reforms in the Georgian State Electrosystem (GSE) helping to transform it into a modern, operationally efficient and financially sustainable corporate entity.

"GSE and its subsidiary EnergoTrans currently rely heavily on government funding and external borrowing and have accumulated substantial debt to support upgrades and the expansion of transmission infrastructure," the ADB noted.

According to the ADB Principal Energy Specialist Adnan Tareen, this program will help improve the financial sustainability and performance of Georgia’s energy sector and free up fiscal space to allow the government to better allocate resources to critical areas such as the COVID-19 economic recovery.

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