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Daily Archives: February 3, 2016

EBRD Allocates €100 for the development of Green Cities

Green Georgia

The EBRD is considering engagement in the development of “Green Cities” in Georgia. The proposed Framework consists of a facility of up to EUR 100 million to support municipal investments related to “Green Cities The total project cost is estimated at up to EUR 130 million including co-financing provided by …

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Norwegian Group Starts Salmon Farming in Adjara Region

A Norwegian consortium is investing in Georgia’s Adjara region to start farming Norwegian salmon in Kobuleti. Steinar Gravis, representative of the company and Otar Danelia, Minister of Agriculture has signed a co-operation memorandum, which envisages establishment of fisheries with modern technologies in Kobuleti. According to Steinar Gravis, they have selected …

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National Bank of Georgia Keeps Its Policy Rate Unchanged At 8.0%

Georgian Lari

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on February 3, 2016 decided not to change the current refinancing rate at eight percent. The monetary policy decision is based on the macroeconomic forecast, which indicates a sharp increase in the inflation expectations given the Lari depreciation against …

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TBC Bank Becomes General Sponsor of Georgian Rugby Union

Ruby is Our Game – TBC Bank has become a title sponsor of the Georgian Rugby Union and the National Team. The decision was unveiled at the joint news conference that was held today with the participation of the TBC Bank managers, the Rugby Union representatives, rugby players and reporters. …

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Georgia Develops its Dairy Production: Lactalis Enters Georgia

Meeting with the Vice President of the Lactalis Group

The representatives of French Company Lactalis and Georgian Company Sante met with Georgian authorities. Lactalis became one of the shareholders of Sante, which will enable company to present Georgian products on international market and develop local production of milk and dairy products. French Company to Georgian market will contribute towards …

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Ski Resorts Extend Winter Season Until Mid May

Gudauri SKI

Winter tourism season is expected to last until mid May at Georgian ski resorts in 2016. This year tourist inflows are satisfactory, because in the New Year period all ski resorts were overcrowded, the head of the Ski Resorts Development Company told the Commersant radio station. According to preliminary estimations, …

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Georgia Issues License for Constructing Cascade of Namakhvani HPPs

Namakhvani HPP

The Georgian government has issued a license for constructing the cascade of Namakhvani hydro power plant, Georgian Energy Development Fund (GEDF) reported. According to the statement, a term license was issued for the Namakhvani HPP Cascade project last week. Issuing the construction license has made the project more attractive and …

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