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EBRD to Allot 6 million EUR to Georgia for Constructing Bridge with Armenia

European Bank for Reconstruction and Development (EBRD) plans to finance modernization and reconstruction of Georgia-Armenia frontier point.
The loan agreement for Bagratasheni bridge construction on Georgia-Armenia border was signed on November 23, 2012. Under the agreement, EBRD will allocate 10.3 million EUR to Armenia, while EBRD is discussing issue of allocating a sovereign loan to Georgia to co-finance Sadakhlo-Bagratasheni bridge. Namely, EBRD is expected to allot 6 million EUR loan to Ministry of Regional Development and Infrastructure.

On the side of the Republic of Armenia, the modernisation programme is also co-financed by a loan from the European Investment Bank (EIB) and grant funding by the EU, the EU’s Neighbourhood Investment Facility (NIF) and the United Nations Development Programme (UNDP). Total investment value of the project is 64.1 million EUR.

Source: http://bit.ly/2dJ60rF

Current Condition Of Commercial Banks’ Loan Portfolio

The volume of lending by commercial banks (including loans to non-residents) in September 2016 increased by 74.0 million GEL or by 0.5 percent compared to the previous month and constituted 16.5 billion GEL by September 1, 2016 (exchange rate effect excluded it decreased by 0.2 percent).

bank-deposits-660x330The volume of loans in the national currency increased by 150.1 million GEL (2.6 percent) and the volume of loans in foreign currencies decreased by 76.1 million GEL or by 0.7 percent in the same period (as a result of operations, or exchange rate effect excluded, above mentioned indicator decreased by 1.8 percent).

By the end of September 2016, commercial banks issued 2.0 billion GEL worth of national currency-denominated loans (11.2 percent more compared to the previous month), and 5.6 billion GEL worth of foreign currency denominated loans (0.9 percent less) to resident legal entities (exchange rate effect excluded volume of lending in the foreign currency decreased by 2.0 percent).

During September 2016 the volume of lending to resident individuals increased by 2.1 percent or 171.2 million GEL, and constituted 8.3 billion GEL by October 1, 2016. Larization ratio for total loans constituted 36.51 percent by October 1, 2016. Compared to September 1, 2016 exchange rate effect excluded larization ratio of total loans increased by 0.99 percentage point.

Source : http://bit.ly/2dVx1f0

World Bank to help Georgia in implementing reforms

World Bank Regional Director for the South Caucasus Mercy Tembon and the Georgian PM Giorgi Kvirikashvili held a meeting today.
According to Tembon, the World Bank will help the Georgian government to implement reforms. She also congratulated Kvirikashvil on holding the transparent parliamentary elections.

downloadThey also paid attention to the current and planned reforms, positively assessed by the World Bank.
Tembon expressed satisfaction with the country’s achievements in business development. She stressed that these achievements will be reflected in the annual report of the organization, which will publish in the near future.
In addition, the regional director of the World Bank noted Georgia’s progress in overcoming poverty over the past four years.

Source : http://bit.ly/2f6vhSE

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