Daily News September 27, 2018	Days:  25 26 27 28 01

economics

NBG APPROVED CORPORATE GOVERNANCE CODE FOR COMMERCIAL BANKS

National Bank of Georgia (NBG) declared about approval of code of corporate governance for commercial banks.

According to NBG, the code is based on international practice, including guide on the governance from Basel Committee on Banking Supervision, principles of corporate governance of the Organization for Economic Cooperation and Development (OECD), acting directives of the EU and various researches.




RULE OF LEVERAGE COEFFICIENT FOR COMMERCIAL BANKS APPROVED

National Bank of Georgia (NBG) approved rule of leverage coefficient for commercial banks. The banks will have to report their leverage coefficients to NBG monthly.




THE EU AND EIB ALLOCATE 30M EUR IN SUPPORT OF SME IN GEORGIA

European Investment Bank (EIB) will allocate to Georgian TBC Bank credit of 30 million EUR, intended for financing of small and medium enterprises (SME), the EU representation in Georgia reported. The representation noted that the allocation could benefit about 600 small and medium-sized Georgian enterprises.




GEORGIAN FINANCE MINISTRY: EIB FUNDED IN PUBLIC SECTOR PROJECTS WORTH 1.33B EUR, ALLOCATED 215.8M EUR TO PRIVATE SECTOR

Georgian Finance Ministry reported that as of now, European Investment Bank (EIB) financed in public sector investment projects worth 1.33 billion EUR. For private sector of the country, EIB allocated 215.8 million EUR, the Ministry specified.




EIB ALLOCATES ADDITIONAL GRANT FOR KUTAISI SEWERAGE PROJECT

European Investment Bank (EIB) will allocate additional grant of 3.25 million EUR for the Kutaisi sewerage project.

As Georgian Ministry of Regional Development and Infrastructure said, this sum will be used for improvement of already existing detailed design of the project and financing of consulting supervision service.

business

AS OF JUNE 30, PROPERTY INSURANCE PREMIUM INCREASED BY 6.3% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in property insurance, amounted to 41.16 million lari. If compared with the same period of 2017, the volume has increased by 6.3%.




AS OF JUNE 30, TRAVEL INSURANCE PREMIUM DECREASED BY 14.4% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in travel insurance, amounted to 3.55 million lari. If compared with the same period of 2017, the volume has decreased by 14.4%.




AS OF JUNE 30, CARGO INSURANCE PREMIUM INCREASED BY 57.4% Y-O-Y

State Service for Insurance Supervision reported that premium, attracted by Georgian insurance companies as of June 30 in cargo insurance, amounted to 4.27 million lari. If compared with the same period of 2017, the volume has increased by 57.4%.