Daily News February 28, 2018	Days:  26 27 28 01 02

politics

“TI GEORGIA”: TENDENCY OF REDUCTION OF EXPENSES IS NOTED IN ADMINISTRATIONS OF GOVERNORS, BUT IT DOES NOT CONCERN SALARIES AND FUEL

TI Georgia, Georgian branch of Transparency International, declared that tendency of reduction of expenses is noted in administrations of governors in comparison with 2016, but it does not concern expenses on salaries and fuel.

The organization conducted study of expenses on salaries, bonuses and salary supplements, as well as on telephone communication, business trips, fuel, restaurant service, executed by all 9 administrations of the state representatives (governors of Georgia’s regions) in 2017.




“TI GEORGIA”: INVESTIGATION SHOULD BE LAUNCHED ON UNJUSTIFIABLE HANDOVER OF PROPERTY TO COMPANY OF FORMER MAIN PROSECUTOR

Following conclusion of State Audit Service, Prosecutor’s Office has to launch investigation on the fact of unjustifiable handover of property by Tbilisi municipality to BSR-CDG Development (company of the former main prosecutor Otar Partskhaladze), TI Georgia, Georgian branch of Transparency International, declared.

The organization stated that appropriate departments of Tbilisi municipality unreasonably disposed property of the city that could be result of a certain corruptive deal with BSR-CDG Development.




PROSECUTOR’S OFFICE: FOLLOWING INTERIM INFORMATION OF STATE AUDIT SERVICE, INVESTIGATION WAS LAUNCHED IN 2017

Following interim information of State Audit Service, investigation of possible abuse of powers by certain officials was launched in 2017, Georgian Prosecutor’s Office declared.

The Prosecutor’s Office specified that within the investigation, legality of decisions regarding land plots, connected with company BSR-CDG Development, is examined.

economics

GEORGIA TO SPEND $38M FOR CLIMATE-RELATED RISKS’ REDUCTION DURING 7 YEARS

Green Climate Fund (GCF) approved the new program, which aims development of natural disasters early warning system in Georgia, representation of the UN Development Program (UNDP) in Georgia reported. The 7-year program worth $70 million will be implemented with assistance of UNDP.




NEW RULE OF CURRENCY EXCHANGE POINTS’ REGISTRATION AND REGULATION APPROVED

National Bank of Georgia (NBG) approved the new rule of registration and regulation of currency exchange offices. Respective order of NBG president has entered in force today.




IN Q4 OF 2017, PROPERTY OF BAD BORROWERS, SEIZED BY MICROFINANCIAL ORGANIZATIONS, INCREASED BY 12% Y-O-Y

National Bank of Georgia reported that property, put in security of loans and appeared in ownership of microfinancial organizations after borrowers’ fail to pay credits back, totaled as of December 31, 2017 to equivalent of 16.8 million lari. If compared with the same period of 2016, the volume has increased by 12%.

business

13 OUT OF 16 LOCAL BANKS HAVE SEIZED PROPERTY OF BAD BORROWERS

Quarterly reports of commercial banks, published on the website of National Bank of Georgia, show that out of 16 banks, operating in Georgia, 13 ones owned at the end of 2017 the property, seized from bad borrowers.

As of December 31, 2017, total volume of property, which such borrowers put in guaranty of their credits and which appeared in property of banks after fail to pay the loans, totaled to 209.2 million lari, increasing year-on-year by 31.5%.




GEORGIAN DESIGNERS PARTICIPATED IN MILAN EXHIBITION

With support Economy and Sustainable Development Ministry’s Agency Produce in Georgia and Mercedes-Benz Tbilisi Fashion Week, Georgian designers took part in exhibition in Italy, the Agency reported.

Fashion trade show Super of Pitti Immagine took place in Milan on February 24-26.




PRODUCTION OF POLYETHYLENE PIPES LAUNCHED THROUGH “PRODUCE IN GEORGIA” PROGRAM

Within “Produce in Georgia” state program, LLC Polymer 1 opened today in Tbilisi an enterprise, producing polyethylene pipes. As the Ministry of Economy and Sustainable Development reported, the company invested over 6.5 million lari in the enterprise.