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Tag Archives: Bruno Balvanera

EBRD appoints Bruno Balvanera new Managing Director, Central Asia

Bruno Balvanera has been appointed new EBRD Managing Director, Central Asia. In this position he will be responsible for one of the most geographically diverse regions of the Bank’s operations, with current commitments close to US$ 13.5 billion (€11.6 billion). Mr Balvanera will take over responsibility for Central Asia from …

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150 million USD to be Allocated for Financing Small and Medium Businesses

“150 million USD will be allocated for Georgia within the second phase of the SME Support Program,” said Bruno Balvanera, European Bank for Reconstruction and Development (BAN) director, adding that Georgia has the greatest chance of benefiting out of the program beneficiary countries. “Georgia is actively implementing this program, so …

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EBRD: No Financial Aid will Be Allocated to Rustavi Azot

EBRD regional director Bruno Balvanera says that no financial aid will be allocated to Rustavi Azot. “We were discussing the issue of financing Rustavi Azot. However, taking into account the earlier prices of fertilizers, we have decided not to prolong financial aid. We have no plans to provide further support …

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EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

EBRD to Allocate 28 million EUR for Enguri HPP Rehabilitation

On January 5 Government of Georgia and European Bank for Reconstruction and Development (EBRD) have signed an agreement for financing Enguri HPP Rehabilitation Project – Sustainable Development for Climate Conditions. The document was signed by Minster of Finance Mamuka Bakhtadze and EBRD regional director in the Caucasus, Moldova and Belarus …

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EBRD Evaluates Implemented Projects in Georgia

According to Bruno Balvanera, Regional Director of the European Bank for Reconstruction and Development, the organization’s activity in Georgia and the share of investments is exceptionally large compared to all the countries where EBRD is doing its business. “Our activities include a variety of fields, but I would like to …

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Bruno Balvanera: Bonds are a Viable Source of Local Currency Funding

Bruno Balvanera: Bonds are a Viable Source of Local Currency Funding

Bruno Balvanera, EBRD Director for the Caucasus, Moldova and Belarus declares that the transaction sends a strong signal that bonds are a viable source of local currency funding for the private corporate sector. The EBRD invested GEL 20 million in a bond subscription by JSC Evex Medical Corporation. According to …

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EBRD Plans to Invest 350 mln in Georgia This Year

EBRD Plans to Invest 350 mln in Georgia This Year

The European Bank for Reconstruction and Development (EBRD) plans to invest 300-350 million EUR in Georgia this year. The Regional Director of the EBRD says that previous year’s record (250 million) is improved in 2017 in terms of investment portfolio. “At this stage I do not know the final answer, …

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Georgia On My Mind – Where Beauty Meets Business

Georgia is a beautiful country, blessed with a favourable location at the crossroads between Western Asia and Eastern Europe. Bordering Armenia, Azerbaijan, Russia and Turkey and with access to the sea, Georgia has good transportation links with the entire region and beyond, and it enjoys a free trade agreement with …

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EBRD Swerves Plans for Allocating 125 million USD Resource to Rustavi Azot

EBRD will not allocate a 125 million USD financial resource to Rustavi Azot. The EBRD regional director Bruno Balvanera told BusinessContract that  the company has not fulfilled the agreement-determined obligations and global market dynamics should be also taken into account. “We were working jointly with Rustavi Azot and approved a …

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IFC and EBRD to Allocate 18 million EUR to Aversi

IFC and EBRD to Allocate 18 million EUR to Aversi

International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) will allocate 18 million EUR financial resources to Aversi Pharma. By this decision, intrnational organizations will assist the company to broaden public access to high-quality medical services in Georgia. IFC will allot 13 million EUR loan to enables …

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Balvanera Announces About the Unprecedented Contribution to Georgia

Balvanera Announces About the Unprecedented Contribution to Georgia

“I should name a record figure – investment of over 3 billion, 800 EUR on per capita”, – regional director of EBRD has announced on the unprecedented contribution to Georgia, which is a respond of important reforms for the second stage of country’s development. Bruno Balvanera estimated excise growth in …

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EBRD: Government should Cut Expenses or Set New Taxes

Government of Georgia should either cut expenses or introduce new taxes to replenish expected budget deficit in 2017, Bruno Balvanera, the EBRD director in South Caucasus, Moldova and Belarus, told eugeorgia.info. Government plans to remove profits tax to incentivize inflow of investments. At the same time, alternative sources of revenues …

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