EU and EBRD support issue of US$80 million green bond on Georgia’s capital market
The European Union and the European Bank for Reconstruction and Development (EBRD) have announced the first winner who will receive a grant through their capital market support programme.
Georgia Renewable Power Operations’s (GRPO) US$ 80 million green secured bond will become the largest transaction, as well as the first ever green bond issued on Georgia’s capital market.
The company will receive a contribution from the European Union to co-finance issuance related fees, and the support mechanism will be implemented by the EBRD.
“I believe the programme will catalyze green and sustainable bond issuances in the country and incentivise renewable energy developers to align with high Environmental, Social and Governance standards. We are extremely proud to be pioneers in this regard and to contribute towards the development of the Georgian renewable energy sector,” said Nuka Mshvidobadze, GRPO’s chief financial officer.
The EU-funded Capital Market Support Programme aims to facilitate capital market development in Georgia, through the implementation of educational activities as well as the support mechanism.
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A MEETING TOOK PLACE BETWEEN THE PRESIDENT OF TURKMENISTAN AND THE PRESIDENT OF THE EUROPEAN COUNCIL
On September 18, 2023, the President of Turkmenistan Serdar Berdimuhamedov held a meeting with the President of the European Council Charles Michel in New York.
As the head of state noted, Turkmenistan attaches great importance to strengthening friendly ties and constructive dialogue with the EU, which is expanding every year, covering new areas of interaction.
In this context, the successful cooperation of Turkmenistan with this international structure, both in a bilateral format and within the framework of the European Union - Central Asia Dialogue, was emphasized.
The European Union is a long-time partner of Turkmenistan in the implementation of a number of specialized projects and programs aimed at solving priority tasks for the further economic and social development of our country, including in the field of legislation, education, information and communication technologies, agriculture and water management, environmental protection, climate change, the head of state emphasized.
At the same time, it was noted that currently leading European companies are represented in many sectors of the Turkmen economy - in the oil and gas complex, transport, electricity, construction, communications and communications.
During the conversation, an interested exchange of views took place on the prospects for further interaction in the context of its key aspects and the existing diverse potential.
‘Crucial time for Georgian future’: Borrell comes to Tbilisi to discuss country’s European path
EU High Representative Josep Borrell, visiting Georgia today, held a series of meetings on EU-Georgia co-operation and Georgia’s European perspective.
Speaking at his first press conference yesterday after arriving in Tbilisi, Borrel said this was “a crucial time” for Georgia’s future because in a few weeks, the European Union would consider the next steps in Georgia’s path to the European Union and, for the first time, the report on Georgia’s progress as an enlargement country.
“I want to be very clear in that important moment: the European Union’s door is open to Georgia and the European Union is committed to supporting Georgia on its path towards European Union membership,” said Borrell.
Today, Borrell met Salome Zourabichvili, President of Georgia, to discuss Georgia’s path to the EU, as well as the regional security situation.
He also met Prime Minister Irakli Garibashvili to “pass three messages”: “time must be used wisely now to advance reforms”, the EU welcomes Georgia’s support for Ukraine, and it remains steadfast in its support for Georgia’s territorial integrity.
The EU High Representative visited the Georgian Parliament to meet the representatives of all the political parties present in the Parliament. At the meeting, Borrell said that “polarisation is part of political life, but needs to be measured. All political parties must cooperate to advance the reform agenda”.
Finally, Borrell had an “important meeting” and “useful dialogue” with civil society representatives in Georgia. “Impressed by their work. Ensuring involvement of CSOs in the decision-making processes at all levels is key,” wrote Borrell on X (formerly Twitter) after the meeting.
Tomorrow, the High Representative will visit the European Union Monitoring Mission (EUMM) in Georgia and participate in mission activities along the Administrative Boundary Line, organised by the EUMM.
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Committee for European Union of the German Bundestag visits Tbilisi
A delegation from the committee for European Union affairs of the German Bundestag will visit Georgia from May 2nd to 5th, 2023. Members of the delegation are: Christian Petry (SPD, Head of delegation), Ralph Brinkhaus (CDU/CSU), Michael Sacher (BÜNDNIS 90/DIE GRÜNEN), Thomas Hacker (FDP) and Dr. Harald Weyel (AfD).
During the visit, meetings are planned with the Minister of Justice, H.E. Rati Bregadze, the Minister of Economy and Sustainable Development, H.E. Levan Davitashvili, and Deputy Foreign Minister, H.E. Teimuraz Janjalia.
Furthermore, the delegation will hold talks with the Speaker of the Parliament, Shalva Papuashvili and the chairmen of several committees of the Georgian Parliament.
The program is completed by exchanges with representatives of civil society, the media, business and cultural institutions.
As Georgia submitted an application for membership to the European Union in March 2022 and has had the prospect of joining the EU since June 2022, the talks will concern necessary reforms and the structure of relations and cooperation between Georgia and the EU.
Against the background of the Russian war of aggression in Ukraine, the focus will also be on coordinating questions of foreign and security policy, as well as on the regional effects of the war and geopolitical aspects.
EU Foreign Affairs Council: Ukraine, Moldova, and Georgia in focus
The EU Foreign Affairs Council took place on 24 April, with the situation in Ukraine, Georgia and Moldova as priority topics.
Ukrainian Foreign Minister Dmytro Kuleba addressed the EU ministers via video conference, and briefed them about the latest developments on the ground and Ukraine’s military priorities and needs, especially in terms of ammunition and missiles.
EU High Representative Josep Borrell highlighted that in total the EU and its member states have already facilitated the delivery to Ukraine of over €13 billion in military support.
He also updated ministers on EU military support to Ukraine in the context of the three-track plan. On track one, the EU adopted an assistance measure under the European Peace Facility worth €1 billion to address Ukraine’s most immediate needs. EU member states are also finalising work on track two, to facilitate joint procurement. Lastly, the European Commission will soon present concrete proposals on how to ramp up the European defence production capacity under track three.
Ministers were also informed about the activities of the EU Military Assistance Mission in support of Ukraine (EUMAM Ukraine), which has already exceeded its initial target by training over 16,000 Ukrainian soldiers. The EU aims to train a total of 30,000 soldiers by the end of 2023.
EU Foreign Ministers also held an informal exchange with the Georgian Foreign Minister, Ilia Darchiashvili, and confirmed that Georgia has made significant progress in many key reforms. They also highlighted that rule of law, human rights, media, civil society and independent state institutions are important elements for each country aspiring to join the EU.
Concerning Moldova, the Foreign Affairs Council established a new civilian EU CSDP partnership mission (EUPM Moldova), reached a broad agreement on a new framework for sanctions against those who destabilise the country, and on allocating further €40 million coming from the European Peace Facility to support Moldova’s defence capabilities.
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Prime Minister departs for Brussels
Georgian Prime Minister Irakli Garibashvili, together with a delegation, has set out on a visit to Belgium.Within the scope of the visit, Irakli Garibashvili will hold high-level bilateral meetings at both NATO and the EU.Led by the Prime Minister, the Georgian delegation consists of Foreign Minister Ilia Darchiashvili and Head of the Government Administration Revaz Javelidze.Press Service of the Government Administration