Government of Germany to Allocate €27 Million as Budget Support for Energy Sector Reform of Georgia
The Agreement on Stabilizing the Economy by Supporting the Energy Sector Reform was signed today by and between Georgia and Kreditanstalt für Wiederaufbau (KfW).
Signatories of the document are H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Birgit Holderied-Kreß, Director of KfW Office in Tbilisi.
H.E. Ernst Peter Fischer, Ambassador Extraordimary and Plenipotentiary of the Federal Republic of Germany to Georgia attended the event.
The agreement envisages the implementation of Phase 5 of the Energy Sector Reform which provides support for the sector-specific initiatives planned by Government of Georgia. With this commitment, authorities of the country will continue strides towards using the full potential of renewable energy, energy efficiency and a market-driven power market.
Minister of Finance of Georgia met ADB Country DirectorH.E. Lasha Khutsishvili, Minister of Finance of Georgia met Shane Rosenthal, ADB Country Director in Georgia with Bruce Dunn, ADB Director of the Sustainable Development and Climate Change Department and other officials of the ADB.Meeting was attended by Ekaterine Guntsadze, Deputy Minister of Finance of Georgia.Dignitaries discussed the bilateral and regional cooperation between Georgia and Asian Development Bank (ADB).ADB intends to update its Safeguard Policy Statement issued in 2009. It will be brought in compliance with the ADB Strategy for 2030 and its operational priority plans.Meeting held today was aimed at sharing information on the updated policy approaches and directions between the stakeholders to make sure that every country of the ADB gets more effectively engaged in the process of discussion.Safeguard Policy Statement includes such themes as: assessment and management of environmental and social risks and impacts; labor and working conditions; pollution prevention and resource efficiency; health, safety and security; biodiversity and sustainable natural resource management; cultural heritage and others.As noted at the meeting, Georgia stands ready to actively cooperate and attune its position in all these directions.
Georgia Receives Around €55.6 Million from EBRD to Modernize Metropolitan Transport in Tbilisi
Agreements were signed today by and between Georgia and European Bank for Reconstruction and Development (EBRD) envisaging the modernization of metropolitan transport in Tbilisi.
Loan and Grant Agreements were signed by H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Mark Bowman, EBRD Vice President for Policy and Partnerships during his working visit to Georgia held within the scope of a Caucasus Tour.
Financial resources in the volume of around 55.6 million Euros will be used for the rehabilitation of underground metropolitan stations in Tbilisi and refurbishment of escalators.
Project will be implemented by the Mayor’s Office in the Municipality of Tbilisi through Tbilisi Transport Company (TTC).
Mark Bowman, EBRD Vice President for Policy and Partnerships is visiting Georgia together with Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus (EEC).
This visit was preceded by a series of meetings held by H.E. Odile Renaud-Basso, EBRD President in Tbilisi in September 2022.
The current visit aims to review the upcoming projects of EBRD to be implemented both in the private and public sectors of the country.
German Government allocates 55 million EUR to support the rehabilitation of a drinking water treatment plant in Batumi
On 7th of December 2022 KfW Development Bank, on behalf of the Government of the Federal Republic of Germany, signs financing agreements of a total of 55 million EUR with the Government of Georgia, represented by the Ministry of Finance of Georgia for the fifth phase of the Municipal Infrastructure Batumi project.
For more than 16 years the project with a financing volume of around 138 million EUR was implemented for the creation of a modern water infrastructure in Batumi.
As a result, more than 200,000 people who previously had access to drinking water only for a couple of hours a day, are now continuously supplied with hygienically safe drinking water. Additionally, with the construction of a modern sewer system and wastewater treatment plant, wastewater is now professionally drained and cleaned. A new stormwater system and new stormwater pumping station have furthermore significantly reduced the risk of flooding the city center. Even dolphins have been seen from the beach again, which speaks for the improvement of see water quality.
The newly signed financing agreements will ensure that the improved supply of drinking water can be extended for the growing population of Batumi. An old drinking water treatment plant will be rehabilitated and adapted to the modern standards and the wastewater treatment plant will be expanded and equipped with sludge treatment and nutrient elimination systems.
The Government of the Federal Republic of Germany supports the project through KfW with a 53 million EUR loan and 2 million EUR grant for accompanying measures to support the municipal water supply company “Batumis Tskali”.
Georgia and ADB signed the Agreement on Fiscal Resilience and Social Security ProgramAgreement has been concluded with Asian Development Bank (ADB) for the implementation of a fiscal resilience and social security program in Georgia. According to the administration of the Ministry of Finance, Georgia and ADB signed the Agreement on Fiscal Resilience and Social Security Program today.Document was signed by H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Shane Rosenthal, ADB Regional Director in Georgia.Agreement envisages the allocation of financial resources in the volume of 100 million and 190 thousand Euros for the implementation of a Fiscal Resilience and Social Security Program ensuring the sustainable and inclusive economic growth.Signatories shared their vision at a meeting held prior to the signing of the agreement on the current situation in the country developing against the background of global challenges. Transit potential and boosted energy security of Georgia, along with its significance was once again highlighted.
Meeting of the Minister of Foreign Affairs of Turkmenistan with the Minister of Energy and Infrastructure of the UAE
2022, in Astana, on the sidelines of the VI Conference on Interaction and Confidence Building Measures in Asia (CICA) was held a meeting between the Minister of Foreign Affairs of Turkmenistan R.Meredov and the Minister of Energy and Infrastructure of the United Arab Emirates Suhail Al Mazrui. About this reports Press service of the MFA of Turkmenistan.
During the meeting, the importance of contacts at a high level and the commitment of the parties to the consistent implementation of the reached agreements were noted.
The parties also discussed issues of bilateral cooperation in the transport and logistics, trade, economic and investment fields.
The parties expressed their readiness to intensify a fruitful dialogue in promising areas of bilateral cooperation, which are of mutual interest.