The Asian Development Bank approved the allocation of a $ 100 million loan to Georgia

2021/09/02-1632297214.jpg
Read: 2740     13:00     22 Сентябрь 2021    

The Asian Development Bank (ADB) has approved a loan to Georgia in the amount of US $ 100 million. The money will be used to strengthen the electricity sector.

According to the ADB statement, within the framework of the electricity sector reform program, the ADB will assist in the implementation of institutional reforms in the State Electricity System of Georgia (GSE) in order to transform it into a modern, operationally efficient and financially viable corporate organization. GSE and its subsidiary Energotrans are currently significantly dependent on government funding and external debt.

Georgia has been a member of the ADB since 2007. During the cooperation, the country received loans from ADB in the amount of almost four billion dollars.

The bank notes that negotiations on the issuance of this loan have been conducted since 2018.

The Georgian government, which recently refused EU macro-financial assistance under the pretext of reducing the national debt, does not intend to refuse the ADB loan.

apsny.ge





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The Asian Development Bank approved the allocation of a $ 100 million loan to Georgia

2021/09/02-1632297214.jpg
Read: 2741     13:00     22 Сентябрь 2021    

The Asian Development Bank (ADB) has approved a loan to Georgia in the amount of US $ 100 million. The money will be used to strengthen the electricity sector.

According to the ADB statement, within the framework of the electricity sector reform program, the ADB will assist in the implementation of institutional reforms in the State Electricity System of Georgia (GSE) in order to transform it into a modern, operationally efficient and financially viable corporate organization. GSE and its subsidiary Energotrans are currently significantly dependent on government funding and external debt.

Georgia has been a member of the ADB since 2007. During the cooperation, the country received loans from ADB in the amount of almost four billion dollars.

The bank notes that negotiations on the issuance of this loan have been conducted since 2018.

The Georgian government, which recently refused EU macro-financial assistance under the pretext of reducing the national debt, does not intend to refuse the ADB loan.

apsny.ge





Tags: