Agreement signed between Rustavi Nitrogen and EBRD

Published in Economics
Wednesday, 20 July 2016 15:42

First Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili with the representatives of Georgian Government attended the agreement signing ceremony between Rustavi Nitrogen and EBRD. The ceremony was held in Tbilisi Marriott. The agreement provides funding 155 000000 US dollars to Rustavi Nitrogen which will be used for rehabilitation and modernization of ammonia production line.
The company named Rustavi Nitrogen is one of the biggest employers in Georgia. 

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  • EBRD Literature Prize 2021: selected longlist announced
    • The Prize recognises the best works of literary fiction from the EBRD’s regions translated into English
    • Longlist features work translated from eight languages
    • Winner of €20,000 prize to be announced in May

    The EBRD Literature Prize 2021, launched by the European Bank for Reconstruction and Development to promote translated literary fiction from its regions of operations, announces its selected longlist today. 

    This is now the fourth year of the EBRD Literature Prize which celebrates the very best in translated literature from the nearly 40 countries where the Bank invests: from central and eastern Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean.

    The €20,000 Prize is awarded to the best work of literary fiction originally written in a language from one of these countries, which has been translated into English and published by a UK or a Europe-based publisher.

    The international prize was created in 2017 by the EBRD with funding provided by the members of the EBRD, in cooperation with the British Council. It is one of the few international literature prizes which recognises both author and translator in equal measure.

    The independent panel of judges for the EBRD Literature Prize 2021 has selected 10 novels that they consider outstanding works of storytelling. In total, eight languages feature on the selected longlist, which represents a fascinating mix of cultures from across the EBRD regions of operations.

    Toby Lichtig, Chair of the Judges, said: “Given the diversity of territories covered by the EBRD, it is perhaps unsurprising how varied and culturally rich this longlist is, both thematically and stylistically. The ten books move us from 1930s Warsaw to 1950s Czechoslovakia to contemporary Ukrainian no man’s land; from a Kafakaesque tale of judicial injustice to an absurdist tragicomedy of human smuggling; from the dying days of the Ottoman Empire to an alternative Balkans hauling itself into the present day. Taken together, they give a picture of an Eurasian region riven with the scars of war and displacement, cruelty and carelessness, and teeming with human resilience and ingenuity. And love. Each book is unique, each translation brilliantly realised.”

    The longlist titles, in alphabetical order by author, are:

    Love in the Days of Rebellion by Ahmet Altan, translated by Brendan Freely and Yelda Türedi (Europa Editions). Language: Turkish. Country: Turkey.

    The Pear Field by Nana Ekvtimishvili, translated by Elizabeth Heighway (Peirene Press. Language: Georgian. Country: Georgia.

    Grey Bees by Andrey Kurkov, translated by Boris Dralyuk (MacLehose Press, an imprint of Quercus). Language: Russian. Country: Ukraine

    Carbide by Andriy Lyubka, translated by Reilly Costigan-Humes and Isaac Stockhouse Wheeler (Jantar Publishing Ltd). Language: Ukrainian. Country: Ukraine

    Hana by Alena Mornstajnova, translated by Julia and Peter Sherwood (Parthian Books). Language: Czech. Country: Czech Republic.

    No-Signal Area by Robert Perisic, translated by Ellen Elias-Bursac (Seven Stories Press). Language: Croatian. Country: Croatia.

    The Highly Unreliable Account of the History of a Madhouse by Ayfer Tunc, translated by Feyza Howell (Istros Books). Language: Turkish. Country: Turkey.

    The King of Warsaw by Szczepan Twardoch, translated by Sean Gasper Bye (Amazon Crossing). Language: Polish. Country: Poland.

    Mr K Released by Matei Visniec, translated by Jozefina Komporaly (Seagull Books). Language: Romanian. Country: Romania.

    Your Ad Could Go Here by Oksana Zabuzhko, translated by Nina Murray, Marta Horban, Marco Carynnyk, Halyna Hryn, and Askold Melnyczuk

    (Amazon Crossing). Language: Ukrainian. Country: Ukraine.

    The EBRD Literature Prize is a project of the Bank’s Community Initiative, a programme which provides a framework for the engagement of staff and the institution in philanthropic, social and cultural activities in the regions where the Bank works.

    The Chair of the Community Initiative, Kazuhiko Koguchi, said today: The Literature Prize reminds us of the wealth of creativity and cultures across our regions of operations, and highlights the role of storytelling in connecting us all and building bridges across borders.

    The finalists (three authors and their translators) of the EBRD Literature Prize 2021 will be announced on 3 May 2021. All will be invited to attend the award ceremony later that month (date to be determined), where the winner of the EBRD Literature Prize 2021 will be announced.

    The news prepared in the framework of the EU project "EU NEIGHBOURS east"

  • EBRD and EU strengthen support to small businesses in Georgia

    The European Bank for Reconstruction and Development (EBRD) will enhance its advisory services in Georgia to support local small and medium-sized enterprises (SMEs) in digitalisation and access to capital markets during the COVID-19 crisis. Together with Team Europe, the EBRD aims to increase the resilience and agility of the private sector.

    Backed by €1.8 million in EU funding, the EBRD will help local firms with their digital transformation to avoid interruptions to their operations because of the pandemic and rebuild their businesses with a focus on sustainable and green practices. The previous phase of funding supported strengthening the competitiveness of the country’s SME sector.

    In parallel, the EBRD will assist the National Bank of Georgia with the design and implementation of support mechanisms facilitating access to capital markets – both debt and equity – for local corporates, including SMEs. Targeted support will enhance Georgian companies’ preparedness for capital markets, broaden their funding sources and help attract financing from domestic and international investors. Companies can receive tailor-made advisory services and technical support to improve their corporate governance, transparency and credit rating to source investments across capital markets.

    The announcement follows the new EBRD President Odile Renaud-Basso’s first visit to Georgia on 1 and 2 February.

    The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested more than €4.2 billion in 262 projects in the financial, corporate, infrastructure and energy sectors.

    The news prepared in the framework of the EU project "EU NEIGHBOURS east".

  • EBRD to finance modern municipal infrastructure in Bakuriani, Georgia

    The population of Bakuriani, a city in the Borjomi municipality of Georgia, will benefit from improved public transport and services thanks to a €5 million loan provided by the European Bank for Reconstruction and Development (EBRD).

    The financing will help to acquire special vehicles for street cleaning, snow removal and waste collection, as well as to purchase multi-purpose trucks, and 10 modern buses for passenger transport.

    The new low-floor buses will considerably reduce emissions in this popular mountain and ski resort and offer more comfortable journeys. The EBRD is also providing technical cooperation funding aimed at training and promoting women for bus-driver roles.

    Bakuriani is a small town in the central part of the country. It is one of the most-visited mountain and ski resorts in Georgia and famous for its climate and natural environment.

    The technical cooperation will make recommendations for safe, accessible and inclusive transport that integrates the needs of passengers into urban transport services. Additional technical assistance funded by the donors of the Early Transition Countries Fund (CanadaFinlandGermany, Ireland, JapanSouth KoreaLuxembourg, the Netherlands, NorwaySpain, SwedenSwitzerland, Taipei China and the United Kingdom) will help the company improve its corporate development.

    “This project will help to improve the quality of municipal services and safety measures in an important resort town. Improving Georgia’s municipal infrastructure, especially in the regions, is of paramount importance for the EBRD. The project will also help promote gender equality across the workforce,” said Catarina Bjorlin Hansen, EBRD Regional Director for the Caucasus.

    The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested over €3.8 billion in 252 projects there, in the financial, corporate, infrastructure and energy sectors, with 89 per cent of these investments in the private sector.

    By This email address is being protected from spambots. You need JavaScript enabled to view it.

    Source: https://www.ebrd.com/news/2020/ebrd-to-finance-modern-municipal-infrastructure-in-bakuriani-georgia.html

     

  • EU4Energy: Georgia adopts two key energy efficiency laws

    On 21 May, the Parliament of Georgia adopted key energy efficiency legal acts: the Law on Energy Efficiency and the Law on Energy Performance of Buildings, which transpose the EU Directives in this field. Georgia has continued to implement electricity by-laws according to schedule, even during the COVID-19 pandemic.

    By adopting the two laws, the Government of Georgia is given the opportunity to receive significant investments in public building renovation programmes, amounting to €80 million from the European Bank for Reconstruction and Development (EBRD) and German Bank KfW, €26 million in investment grants and €8.5 million in technical assistance from the EU. Georgia will get an additional €150 million in a policy-based loan tranche from KfW and the French Agency for Development (AFD) for the implementation of reforms.

    "The new framework will not only make Georgia's building industry more competitive, but also its households better supplied with energy services, and its building stock better insulated. It will boost the usage of greener energy sources for heating, cooling and lighting," said Violeta Kogalniceanu, Head of the Energy Efficiency Unit at the Secretariat.

    The laws were developed under the coordination of the Ministry of Economy and Sustainable Development of Georgia in close cooperation with the Secretariat, and with technical assistance provided by the EU supported project EU4Energy for the Buildings Law and by the EBRD for the Energy Efficiency Law.

    Source: https://www.euneighbours.eu/en/east/stay-informed/news/eu4energy-georgia-adopts-two-key-energy-efficiency-laws?utm_campaign=info%40euneighbours.eu&utm_medium=email&utm_source=transactional

  • Presidents of EBRD and ADB Confirm Readiness To Help Georgia Return to High Rate of Economic Development in Video Conference With Giorgi Gakharia

    Prime Minister of Georgia Giorgi Gakharia held a video conference with the presidents of the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) regarding the possible assistance and financial resources to be allocated to Georgia due to the challenges associated with the global pandemic.

    Economic problems caused by the global spread of COVID-19 were emphasized during the video conference. Funding allocated by EBRD and ADB to the Georgian private sector, Georgian banks, and other business entities was noted in particular.

    The sides also discussed post-crisis measures and the assistance that Georgia might receive from the financial institutions, which would enable the government to continue the state funding programs that are being implemented today to support citizens and private businesses.

    It was noted that the government team is actively working with the local representatives, as well as the head offices of both EBRD and ADB to jointly develop a package of measures that will focus on overcoming the ongoing challenges.

    According to the assessment of the presidents of the financial institutions, the fact that Georgia is successfully coping with the crisis constitutes sufficient grounds to say that the country will very quickly regain the rate and positions of economic development that it possessed at the beginning of 2020. Suma Chakrabarti and Masatsugu Asakawa confirmed their readiness to actively support Georgia in this area.

    The Georgian side stressed that EBRD and ADB are very strong and serious partners for Georgia. It was noted that the European Bank for Reconstruction and Development and the Asian Development Bank have financed extremely important projects worth hundreds of millions of dollars in Georgia, including in the area of infrastructure. It was noted that all major systemic infrastructural projects funded by them are still in the active phase of implementation today, despite the ongoing crisis.

    The head of government thanked EBRD and ADB for their active cooperation and their support of Georgia.
    Deputy Prime Minister and Minister of Regional Development and Infrastructure Maia Tskitishvili and Minister of Finance Ivane Machavariani participated in the video conference.

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