REFINANCING RATE LEFT INTACT
National Bank of Georgia (NBG) reported that its Monetary Policy Committee decided today to leave the refinancing rate without change. Respectively, the rate still makes up 7.25%.
THE PREMIER: “FITCH” UPGRADED GEORGIA’S OUTLOOK FROM “STABLE” TO “POSITIVE”
Fitch Ratings has improved outlook for Georgia from “stable” to “positive”, Georgia’s Prime Minister Giorgi Kvirikashvili reported today.
Recently, Moody’s improved Georgia’s rating from “Ba3” to “Ba2”, the Premier reminded.
THE PREMIER: WE PLAN THE SECOND WAVE OF SMALL BUSINESS DEVELOPMENT
“We plan the second wave of small business development – assistance in the capital not only for beginner, but also for small and medium business”, Georgia’s Prime Minister Giorgi Kvirikashvili declared today.
According to the Premier, the matter concerns instruments of special financing.
ECONOMY MINISTRY: BUDGET OF “CHECK IN GEORGIA” PROGRAM FOR THIS YEAR WILL MAKE UP 20M LARI
This year, the budget of “Check in Georgia” state program will amount to 20 million lari, the Ministry of Economy and Sustainable Development declared.
As the Ministry noted, considerable part of this sum will be spent for events with participation of Georgian performers.
“SEED THE FUTURE” STATE PROGRAM TO APPLY TO TWO MORE CROPS
The government decided to expand “Seed the Future” state program on 2 more crops – table grapes and pistachios. The issue was considered at the government meeting today.
FAO: GEORGIAN FARMERS INVESTED $2.5M IN MODERNIZATION OF PRODUCTION AND PURCHASE OF PRODUCTIVE BREEDS OF CATTLE
Farmers, who passed trainings of EBRD and the UN Food and Agriculture Organization (FAO), have invested $2.5 million in modernization of production and purchase of productive breeds of cattle, FAO representation in Georgia reported.
As a result, from the moment of the project launch in 2015, milk production in Georgia has doubled, the representation said.
EIB TO FUND CONSTRUCTION OF UNDERGROUND GAS STORAGE IN GEORGIA
European Investment Bank (EIB) will finance construction of the first underground gas storage in Georgia, Georgian government reported.
At the meeting today, the government considered draft decree on credit allocation by EIB to Georgian Oil and Gas Corporation.
JAPAN TO ALLOCATE TO GEORGIA NEXT GRANTS WITHIN GRANT ASSISTANCE FOR GRASSROOTS HUMAN SECURITY PROJECTS
Within Grant Assistance for Grassroots Human Security Projects, Japan will allocate to Georgia two grants totaling to $166,368. The ceremony of signing of grant agreements was held in Japanese embassy in Georgia today.
KUWAITI AIRLINE PLANS REGULAR FLIGHTS TO GEORGIA
Kuwaiti low-coster Jazeera Airways plans to launch regular flights to Tbilisi, Georgian Ministry of Economy and Sustainable Development declared. Meeting with management of the airline was held in the Ministry today.
IN NEXT YEARS, “SAKARTVELOS KAPITALI” PLANS INVESTMENT OF $500M IN GEORGIA
Sakartvelos Kapitali (Capital of Georgia, holding company of investment business of BGEO Group) declared today that it plans investment of $500 million in Georgia in next years.
This sum includes Eurobonds for $300 million, which Sakartvelos Kapitali has placed on Irish Stock Exchange.
TWO FORMER SANATORIA ARE SOLD WITHIN “50 OBJECTS FOR YOUR HOTEL” PROGRAM
Within “50 Objects for Your Hotel” state program, former sanatorium Iveria, located in Tskaltubo (Imereti region), is sold for 500,000 lari, National Agency of State Property reported.
According to investment conditions, the investor (LLC Iveria Palace) has to invest at least 10 million lari and employ 60 people, the Agency said.
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