Daily News

IN THIS ISSUE:

Georgian Ministry of Economy and Sustainable Development declared that Uzbekistan is interested in Georgia’s transport-logistic capacities. The cooperation is considered not only in bilateral but also in regional and multilateral format, the Ministry said.

Asian Development Bank (ADB) announced approval of loan of $114 million to Georgia, saying that the facility aims assistance to raising efficiency of regional connectivity and transport and strengthening the country’s bid to become a regional transport and logistics hub.

As ADB mentioned, the loan will be used for construction of new 14.3-km bypass road skirting the port city of Batumi, Georgia’s second largest city and gateway point for the trade commodities traffic by East-West highway (E60).

Georgian Finance Ministry said that Austrian Development Agency (ADA) is implementing currently 10 projects with total cost of about 10 million EUR.

While 25 projects worth of about 4.5 million EUR are already completed (including such as assistance to residents of border villages, assistance to internally displaced persons, etc.), the Ministry noted.

Agora Finance (local financial information portal) estimates that correlation between lari exchange rate and dollar index “immensely varied until end of February”. While after February, these two showings are seen stabilizing in relation to each other, the portal points.

National Bank of Georgia (NBG) reported that Financial Literacy Strategy Management Committee, established within national strategy of financial literacy, held its first meeting today.

The scope of the meeting was consideration of interrelation between financial literacy and customer rights protection, NBG said.

National Agency of Public Registry declared about launch of project, aiming development of national navigation system. The project has started in Batumi, after which it will be implemented in Kobuleti.

The study, conducted by European Neighborhood Program for Agriculture and Rural Development (ENPARD), showed that in 2015, total income of single cooperative in Georgia has increased by 19% year-on-year on average (from 64,433 lari to 76,953 lari).

Out of 118 surveyed cooperatives (1,180 members), 79 ones have disclosed revenue figures.

Ketevan Bochorishvili, Deputy Minister of Economy and Sustainable Development, said that “It is important for us to commercialize Georgian designers and shift their talent into business”.

The Ministry “traditionally actively assists Georgian designers and Georgian fashion into two directions: popularization of Georgian designers and raising international recognizability”, the Deputy Minister noted.

Terabank reminds that the bank owner is Arab investment group, including Sheikh Nahayan Mabarak Al Nahayan, who already invested $250 million in Georgia and plans to increase investment in various directions in the country.

However, “Arab investors’ further decision will be shaped in line with the fact, how their right to protect effectively own legitimate interests in certain litigation will be secured”, the bank pointed in statement, released today.

Georgian Agriculture Ministry reported that 27 Georgian wine companies participated in the 96^th China Food&Drinks Fair, held in Chengdu of Chinese province Sichuan. The Fair has attracted 250,000 visitors in the first day only.