BAKU, Azerbaijan, August 10
By Tamilla Mammadova – Trend:
German Investment and Development Corporation (DEG), a subsidiary of KfW Bankengruppe (KfW), currently has a portfolio of some 233 million euros in Georgia investing in local financial, manufacturing and infrastructure sectors, Federal Ministry of Finance of Germany told Trend.
According to the ministry, DEG finances and supports private companies that are active in developing and emerging economies.
"Moreover, Germany is a shareholder in several multilateral banks financing projects in Georgia, such as the World Bank (WB), Asian Infrastructure Bank (AIB) and Asian Development Bank (ADB)," the ministry added.
In 2020, AIB has committed $150 million to Georgia, WB - $240.64 million, and the ADB - $160 million, noted the ministry.
"Germany is also a major shareholder in the European Bank for Reconstruction and Development (EBRD). To date, the EBRD has provided 347 million euros in different loans supporting the Georgian private sector, the energy sector and municipal environment investments," the ministry said.
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