BAKU, Azerbaijan, June 18
By Tamilla Mammadova – Trend:
The Asian Development Bank (ADB) has invested $20 million in green bonds issued by Georgian Railway, Trend reports via the ADB.
As reported, the proceeds to be used primarily to roll over maturing Eurobonds that it had issued to improve existing railway lines as a part of an ongoing modernization project.
The investment forms part of a $500 million issuance by Georgian Railway of 7-year green bonds, the first green bond issuance by a state-owned entity and a transport company from Georgia and the South Caucasus, that will be listed on the London Stock Exchange.
The issuance of these green bonds will enable Georgian Railway to modernize its rail network, which is vital to the country’s economy, as well as to the region, to ensure faster and safer rail transport", said ADB Private Sector Operations Department Director of Infrastructure Finance for South Asia, Central Asia, and West Asia Shantanu Chakraborty.
Georgian Railway is wholly owned by the Partnership Fund, Georgia’s state-owned investment fund. It provides freight services, transshipping a variety of cargo principally from the Caspian Sea and Central Asia in the east to the Black Sea in the west.
It also provides domestic and international passenger services.
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