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Daily Archives: September 6, 2016

FINCA Bank Introduces Unprecedented Loans Campaign

Finca Bank Introduces Unprecedented Loans Campaign

FINCA Bank has introduced an unprecedented loans campaign. Namely, customers are able to take GEL-denominated loans with up to 5% lower interest rate. The loan’s top margin is 200 000 GEL. “Through the loans campaign we would like to give our customers wider opportunity to attain their objectives, develop small …

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IFC Sees Investment Potential in Georgia’s Property Market

Thea Gigiberia, IFC Georgia Country Representative: “IFC’s financing continues to set the standard for developing energy- efficient buildings and fostering competition in the housing sector.” With almost $500 million in investments in Georgia’s financial sector since the 2008 crisis, the International Financial Corporation (IFC) is continuing to finance significant projects …

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Average Salary in Business Sector Is 978 Georgian Laris

In the second quarter of 2016 the averaged monthly salary in the business sector made up 978.1 GEL,including women salaries rose to 727.5 GEL. The averaged monthly salaries due to the size of enterprises are as follows: Major business – 1148.0 GEL Medium business – 783.0 GEL Small business – …

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Tourism in Georgia: Benefits From Improved Relations with Russia

The relations between Russia and Georgia have been finally warming after several years of crisis. This is evidenced by the rate of trade between the two countries, and the rapid growth of business tourists as an indicator of the recovery of business connections. Tourism in Georgia naturally benefits as well …

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Georgian Banks Show Interest in Developing CrowdFunding System

Avtandil Kasradze

Georgian commercial banks are interested in developing the CrowdFunding system in the country, Avtandil Kasradze, deputy head of the Innovation and Technology Agency, told the Business Contact. CrowdFunding system enables anybody to obtain financial component for implementing specific projects. All individuals, who own capital, are able to become a part …

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Georgian Electricity Exports Tariffs Grows in Turkey

Average tariff for exports of Georgian electricity to Turkey has grown by 10.8%, i.e. to 5 Cent on one kilowatt-hour, while electricity prices have dipped by 7% (to 4.8 Cent on kilowatt/hour) on the Turkish market. According to G&T, in Turkey prices declined from the previous year’s low basis. The …

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SOCAR to Construct 1600 KM Gas Distribution Network in 2016

Energy Minster and Vice Prime Minister Kakha Kaladze and SOCAR President Rovnag Abdulaeyv have visited the new gas distribution network in the village of Kirikhlo, the Marneuli District. The gas distribution network of 11 kilometer long will supply gas to 259 families in the village, the Georgian Energy Ministry reports. …

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