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Banking / Investment in Georgia

  • EU-funded project: round table on ethics and disciplinary issues in Georgian Bar Association

    ARMENIA, 2015/08/30 A round table on ethics and disciplinary issues in the Georgian Bar Association's legal framework was held in Tbilisi last week as part of the joint EU-Council of Europe project for ‘Support to the Georgian Bar Association’. The round table, bringing together members of the Georgian Bar Association Ethics Commission inclunding European experts, aimed to identify gaps in the regulatory framework of the Association, inclunding solutions to meet European standards, according to EU Neighbourhood Info. Participants discussed the current situation and agreed to start work on legislative/regulatory changes. The CoE will follow the process and present concrete proposals, which will from presently on be reflected in the legislative/regulatory framework.

  • ProCredit Bank Georgia Installs Innovative 24/7 Zones

    GEORGIA, 2015/08/30 Convenient new drop-boxes that enable clients to deposit money into their current accounts quickly and safely inclunding cash-in ATMs, that make it possible to make cash deposits to a client’s account, are innovative banking solutions being offered by ProCredit Bank Georgia to its clients. The major goal of the instalment of its advanced services at 24/7 Zones was to offer faster and easier services. Progressive banking solutions will be implemented at all of the branches of ProCredit Bank Georgia by the end of the current year. “If you look at technologies that have been working in other banks you will see that it is mainly concentrated on a simple ATM where you can withdraw small amounts of money. It is concentrated on so-called pay boxes where you can deposit very small amounts of money. A lot of people have experienced that it is completely a bit of trouble to pay a thousand Lari into a pay box. It takes completely a long time. So, the new technologies that we are implementing make all of these transactions easier.

  • IMF appproves Georgia's aid package

    GEORGIA, 2014/12/29 The International Monetary Fund (IMF) approved a $58.1 million financial aid package for Georgia. Before in July, the IMF Executive Board approved a 36-month Stand-By Arrangement (SBA) with Georgia which envisaged allocation of $154 million to support the country’s economic program. The board’s decision came on December 25 following the completion of the initial review of Georgia’s economic performance under the three-year Stand-By Arrangement.

  • Investment in Georgia ups, Azerbaijan among top three investors

    GEORGIA, 2014/12/17 Georgia’s Foreign Direct Investments picked up the pace in the third quarter of 2014, according to the country's national statistics office Geostat. The service revealed that the in general all of the foreign investments in Georgia grew by 99 % in the third quarter of 2014 compared to the same period in 2013. The preliminary figures released by the service on December 9 revealed Georgia’s FDI to stand at $508 million during the reported period. The fields of economy and industry that gained the majority offshore investments are construction, transport and communication, manufacturing, finance, energy, hotels and restaurants.

  • Georgia seeks to OK loan agreement with IBRD

    GEORGIA, 2014/09/30   The Georgian parliament intends to ratify the agreement on a loan worth $ 60 million with the International Bank for Reconstruction and Improvment(IBRD - a structural unit of the World Bank). The funds are intended to finance a project to strengthen the transmission network in the country, the bureau of the parliament said. The loan is designed for a period of 25 years with a grace period of 10 years.

  • Vice-President of the Asian Development Bank (ADB) Xiaoyu Zhao

    GEORGIA, 2013/03/23 An agreement to provide Georgia with $48 million for implementation of a project on improvement of the regional power supply network was signed within the framework of a visit by Vice-President of the Asian Development Bank (ADB) Xiaoyu Zhao to this country, the Ministry of Finance of Georgia informed Trend on Friday.
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