Daily News

IN THIS ISSUE:

Sakstat published preliminary estimation for July, saying that real GDP growth in comparison with same month of 2015 made up 2.1%. Average rate for the first 7 months of the year made up 2.7%.

Referring to World Bank’s research “Recent Trends of Poverty Reduction in Georgia”, Economy and Sustainable Development Ministry reported that 32.3% of Georgia’s population (i.e. 1.4 million peoples) was below poverty line in 2014.

World Bank expects that this rate will decrease by 6.8 percentage points by 2018 and population below poverty line will became 25.5%, the Ministry said, pointing that the mentioned rate in 2013 made up 36%, in 2012 – 42.5%, while in 2011 – 44.8%.

Georgia and Asian Development Bank (ADB) have signed agreement on the 3^rd subprogram within “Improvement of Mobilization of Internal Resources for the Program of Inclusive Growth” in Tbilisi today.

Within the program, ADB will allocate $100 million to Georgia, Georgian Finance Ministry reported.

Public Registry declared that starting from today, it will conduct registration of property rights on land plots according to cadastral drawing, prepared in line with new standards only.

Standard form of cadastral mapping/measuring drawing and mandatory technical specification have been defined, which should be used upon preparation of land plot cadastral drawing.

Georgian Ministry of Economy and Sustainable Development reported that 150 companies take part in national exhibition of Belarus, which was opened in Tbilisi exhibition center ExpoGeorgia today. The event will last until September 4.

Ministry of Economy and Sustainable Development reported about memorandum of understanding, being signed on business and investment cooperation with CEFC China Energy. The document was signed within recent visit of heads of the Chinese company to Tbilisi.

Partnership Fund declared that Gino Green City Corporation launches project on territory of Tbilisi Sea (artificial water reservoir nearby Tbilisi), envisaging construction of recreational infrastructure, hotels, entertainment, trade and residential houses.

According to the Fund, total cost of the project makes $700 million, and Slovakia’s ExImBank plans to join its financing also.

Partnership Fund declared that production of jamon (Spanish ham) will start in Georgia. For implementation of the project, the Fund signed memorandum of understanding with company Native Georgian yesterday.

National Bank of Georgia (NBG) announced that in August decision was made on appointment of interim administration in Caucasus Development Bank – Georgia. This decision “is not caused due to problems of the bank, operating in Georgia, but processes, developed around the parent bank in Azerbaijan”, NBG stressed.

The government announced that overall, “Startup Georgia” contest has 56 winners, including 36 financed beginner businessmen and 20 projects, funded within hi-tech component.

Next stage of the contest will be announced on September 20, the government said.