Georgia is the most economically and politically stable country in the region-Laszlo Baranyay

Published in Economics
Thursday, 15 September 2016 15:36

Georgia is the most economically and politically stable country in the region – this statement was made by the Vice President of EIB Laszlo Baranyay at the meeting with Prime Minister of Georgia Giorgi Kvirikashvili.
According to him, European Investment Bank plans to double investment in Georgia in next year. The sides highlighted implementing projects financed by EIB. Giorgi Kvirikashvili presented 4 level plan to the representatives of European Investment Bank and talked about the importance of projects in Georgia.

Read 1118 times

Related items

  • EIB approves €4 billion credit line to support Ukrainian refugees in all EU countries

    On 18 May, the Board of Directors of the European Investment Bank (EIB) approved a €4 billion credit line (or programme loan) to help national authorities, cities, regions and local communities in all EU Member States address urgent investment needs and help welcome and integrate people fleeing the war against Ukraine.

    The EIB pledged these funds back in April, at ‘Stand Up for Ukraine’, a global pledging campaign for Ukraine and its refugees, but board approval was required. The EU and Canada then raised €9.1, including €4 billion from the EIB and €1 billion from the European Commission.

    The EIB credit line will help to provide this support by making financing available to the development of key infrastructure and services for refugees and host communities, such as housing, schools, hospitals and access to jobs. The financing can also cover eligible operational expenditures related to the supply of equipment, facilities and services for the integration of war refugees.

    This financial package will be complemented by EIB advisory support thanks to the EMBRACE Advisory Platform, a new initiative by the EIB and the European Commission.

    All EU Member States can make use of this funding opportunity and bespoke advisory for projects that help refugees start a new life in their host countries,” said EIB President Werner Hoyer. “This initiative comes together with the €668 million support we gave in early March to the Government of Ukraine to cover their urgent liquidity needs; both are part of our Solidarity Package for Ukraine, which we set up together with the European Commission.

    Find out more

    Press release

  • GLOBALink | China Explainer: Special-purpose bonds expected to boost new investments

    In today's China Explainer, let's look at how special-purpose bonds, an important propeller of China's 2022 fiscal policies, play a key role in stabilizing its economy and employment.

    Produced by Xinhua Global Service

  • Team Europe: EU and EIB invest in fast internet connection for rural Georgia

    The European Investment Bank, the Bank of the European Union, will invest up to EUR 34 million in the expanding a high-speed internet network bringing fast and reliable internet services to some 500,000 Georgians living in 1000 rural and remote settlements in Georgia. The investment from the EU bank will finance the installation of 5000 km of fiber optics telecommunications network and provide open-access infrastructure for Georgian telecom operators to provide their fast-internet services. The EU has provided a guarantee through the External Lending Mandate.
    This project supports improved digital connectivity as one of the five flagship initiatives for Georgia under the European Union’s Economic and Investment Plan for the Eastern Partnership
    This new EIB operation is a part of broader Team Europe efforts to support Georgia in digitalising, accelerating green and sustainable social and economic growth, and increasing nationwide resilience to natural disasters such as the COVID-19 pandemic.
    Carl Hartzell, Ambassador of the European Union to Georgia, said: “Investing in the digital transition in Georgia is key to stimulate jobs and growth and bring about prosperity. Through the EU Economic and Investment Plan, we have already started to deliver real benefits on the ground. This flagship programme will assist in bringing new opportunities and reduce digital inequalities between rural and urban areas by developing high-speed broadband infrastructure for around 1,000 rural settlements. I consider this an important contribution to Georgia’s modernisation and economic development and recovery, while promoting digital inclusion in line with its national broadband strategy.”
    Teresa Czerwinska, Vice President of the EIB, who is in charge of operations in Georgia, said: “Our investment in fast and reliable internet services for rural Georgia is more than another Team Europe investment to improve quality of life and doing business for Georgians. It supports digitalisation, the key to the long-term competitiveness of the Georgian economy and its sustainable and green development. Finally, this investment reinforces the recovery of the national economy from the pandemic. Together with Team Europe, EU4Digital the World Bank and the Government of Georgia, we are building modern infrastructure, a cornerstone for a modern and thriving Georgia. The EIB is proud to have contributed yet again towards this goal the whole of Team Europe shares with Georgia.”
    Lasha Khutsishvili, Minister of Finance of Georgia said: “One of the main priorities of the Government of Georgia is the development of the digital economy. The improvement of broadband infrastructure is of the utmost importance in this regard. With the support of our international partner institutions such as the European Union, the European Investment Bank and the World Bank, we are aiming for this goal. This aspiration is demonstrated by the “Rural Fibre Network Georgia” project financed by the European Investment Bank. As one of the flagship projects within the Eastern Partnership priorities, it will promote digital development of rural settlements, that will ultimately be reflected in their economic growth. In addition it is in full compliance with Georgia’s National Broadband Strategy and Government’s programme for 2021-2024. I would like to express my gratitude to the European Union for its continued support and willingness to provide assistance in supporting and advancing the priority sectors of Georgia“.

    Press Release of EU

  • Team Europe: EIB provides €6 million for COVID-19 recovery for Georgian businesses

    The European Investment Bank (EIB), the bank of the European Union, has provided a €6 million loan to Terabank Georgia to support its local currency lending to micro, small and medium-sized enterprises (MSMEs) in the country. 

    The loan is part of the EIB’s SME Outreach Initiative, which promotes access to finance for MSMEs in Georgia by helping smaller banks in the country to offer tailor-made services and financial products to their clients.

    Covered by a guarantee from the European Union, the EIB financing aims to mitigate the impact of the COVID-19 pandemic and to contribute to an economic recovery that puts Georgia on a long-term sustainable growth track. As part of Team Europe, the EIB works hand in hand with other EU projects implemented in Georgia under the EU4Business brand.

    MSMEs are the backbone of the Georgian economy, and access to finance is one of the major challenges they face. To date, the EIB has invested over €300 million in credit lines for Georgian businesses, sustaining more than 54,000 jobs in the country.

    The material is prepared within the project "EU NEIGHBOURS east"

  • Встреча Президента Туркменистана с главой Регионального центра ООН по превентивной дипломатии

    Сегодня в Национальной туристической зоне «Аваза» Президент Туркменистана Гурбангулы Бердымухамедов встретился со Специальным представителем Генерального секретаря ООН, главой Регионального центра ООН по превентивной дипломатии для Центральной Азии (РЦПДЦА) Натальей Герман, принимающей участие в Консультативной встрече глав государств Центральноазиатского региона.

    Одной из главных тем обсуждения стала повестка дня проводимой встречи высокого уровня, на которой предстоит рассмотреть конкретные совместные шаги по дальнейшему развитию многостороннего сотрудничества, укреплению стабильности и безопасности в регионе, а также возможные пути решения возникающих вопросов с привлечением опыта и возможностей авторитетных международных структур, в том числе специализированных агентств Организации Объединённых Наций.

    Поблагодарив Президента Гурбангулы Бердымухамедова за инициативный подход туркменской стороны к актуальным проблемам современности и конструктивную внешнеполитическую стратегию, руководитель РЦПДЦА подчеркнула, что Туркменистан, накопивший за годы своего суверенного развития солидный миротворческий опыт, выступает в качестве важного и долгосрочного партнёра ООН.

    В этой связи отмечался весомый вклад Туркменского государства в урегулировании региональных конфликтов, в частности, оказание практической помощи соседнему Афганистану в построении мирной и благополучной жизни, восстановлении социально-экономической инфраструктуры за счёт реализации значимых проектов в приоритетных сферах.

    Отметив, что очередная консультативная встреча глав государств Центральной Азии является зримым подтверждением готовности государств региона решать все проблемы сообща и в тесном партнёрстве с заинтересованными мировыми структурами, собеседники выразили уверенность, что консолидация совместных усилий и выработка согласованных подходов к выстраиванию политико-дипломатического, торгово-экономического и культурно-гуманитарного диалога позволит придать региональному партнёрству новые импульсы развития.

    Выразив признательность за активное содействие Регионального центра ООН по превентивной дипломатии в Центральной Азии укреплению регионального сотрудничества в целях обеспечения мира и всеобщей безопасности, лидер нации подчеркнул, что Туркменистан рассматривают ООН и входящие в неё организации в качестве несущей опоры всей современной системы глобального взаимодействия, гаранта сохранения и поддержания мира, устойчивости существующей архитектуры безопасности.

    В завершение встречи Президент Гурбангулы Бердымухамедов и руководитель РЦПДЦА выразили взаимную заинтересованность в продолжении установившегося продуктивного взаимодействия во имя достижения общей цели – устойчивого развития Центральноазиатского региона.

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

Session of Economic Council was held under the leadership of Prime Minister

Session of Economic Council was held under the leadership of Prime Minister

Plan of acceleration of infrastructural projects, financial support scheme for startups and activiti...


« October 2022 »
Mon Tue Wed Thu Fri Sat Sun
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30


The News Agency,
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More



Lechkhumi street.43


Phone: (+995 32) 257 91 11




Social Media