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Daily News


August 5, 2022

IN THIS ISSUE:

1. AS OF JUNE 30, NBG’S INTERNATIONAL RESERVE ASSETS INCREASED BY 8.5%
2. AS OF JUNE 30, GEORGIAN BANKS’ CREDITING OF NATIONAL ECONOMY INCREASED BY 7.5% Y-O-Y
3. AS OF JUNE 30, BANKS’ LENDING IN TBILISI INCREASED BY 10.1% Y-O-Y
4. NBG BOUGHT $20M
5. NBG APPROVES SUSTAINABLE FINANCING TAXONOMY
6. GEORGIAN PREMIER AND HEAD OF ISRAELI HOLDING “MIVTACH SHAMIR” DISCUSSED COOPERATION PROSPECTS
7. “500 GLOBAL” TO TRAIN GEORGIAN STARTUPS FOR ANOTHER 4 YEARS
8. 2 SANATORIUMS IN TSKALTUBO SOLD FOR 8.98M LARI

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1. AS OF JUNE 30, NBG’S INTERNATIONAL RESERVE ASSETS INCREASED BY 8.5%
Economics

National Bank of Georgia (NBG) reported that as of June 30, its official international reserve assets totaled to $3.9 billion. The volume has decreased by 2.7% quarter-on-quarter, but increased by 8.5% year-on-year.

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2. AS OF JUNE 30, GEORGIAN BANKS’ CREDITING OF NATIONAL ECONOMY INCREASED BY 7.5% Y-O-Y
Economics

National Bank of Georgia (NBG) reported that loans, issued by Georgian banks to various sectors of national economy, totaled as of June 30 to 20.22 billion lari. If compared with the same period of 2021, the volume has increased by 7.5%.

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3. AS OF JUNE 30, BANKS’ LENDING IN TBILISI INCREASED BY 10.1% Y-O-Y
Economics

National Bank of Georgia (NBG) reported that in total volume of loans, issued by Georgian banks as of June 30 (43.7 billion lari), Tbilisi accounts for 72.1%, or 31.5 billion lari. Lending in Tbilisi has decreased by 0.3% quarter-on-quarter, but increased by 10.1% year-on-year.

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4. NBG BOUGHT $20M
Economics

National Bank of Georgia (NBG) reported about purchase of $20 million at the currency auction held today. The average weighted exchange rate was 2.7186 GEL/USD.

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5. NBG APPROVES SUSTAINABLE FINANCING TAXONOMY
Economics

National Bank of Georgia (NBG) has approved taxonomy of sustainable financing and procedure for loans’ classification and reporting in accordance with this taxonomy.

As NBG explained, sustainable development taxonomy is a classification system that assigns green, social and/or sustainable status to economic activities, if certain criteria are met.

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6. GEORGIAN PREMIER AND HEAD OF ISRAELI HOLDING “MIVTACH SHAMIR” DISCUSSED COOPERATION PROSPECTS
Business

Today, On August 5, Georgia’s Prime Minister Irakli Garibashvili met in Tbilisi with Meir Shamir, director general of the Israeli holding Mivtach Shamir.

As administration of Georgian government said, the parties discussed Georgia’s investment potential and prospects for future cooperation.

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7. “500 GLOBAL” TO TRAIN GEORGIAN STARTUPS FOR ANOTHER 4 YEARS
Business

The acceleration program in the country will last for another 4 years, declared Georgian Ministry of Economy and Sustainable Development. To this end, a contract was signed between the Georgian Agency of Innovation and Technology and the global venture capital platform 500 Global.

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8. 2 SANATORIUMS IN TSKALTUBO SOLD FOR 8.98M LARI
Business

At the electronic auction, announced within the framework of the “New Life of Tskaltubo” project, 2 sanatoriums were sold on August 4 – Tbilisi and Medea. Total gain made up 8.98 million lari, reported Georgian Ministry of Economy and Sustainable Development.

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Exchange Rates (NBG)
  08/12/22 + / -
  USD   2.7089   0.0073
  EUR   2.7880   0.0036
  RUR   4.4083   0.0426
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