GEORGIA TO RECEIVE 231M EUR FROM THE EU FOR VARIOUS PROJECTS
Georgia will receive 231 million EUR as financial assistance from the EU for various projects, Georgian Foreign Ministry declared.
In this connection, two agreements and one document were signed today in Brussels, within the first summit with participation of members of Georgian government and European Commission, the Ministry said.
FOR 18 PRIORITY INVESTMENT PROJECTS IN GEORGIAN TRANSPORT SPHERE, 3.4B EUR IS ENVISAGED
The EU representation in Georgia reported that for investment projects in Georgia’s transport sphere, 3.4 billion EUR is envisaged.
The representation explained that the matter concerns transport investment action plan of Trans-European Transport Network program (TEN-T), which defines 18 priority projects (road, rail, ports, airports).
FINANCIAL STABILITY COMMITTEE LEFT COUNTERCYCLICAL BUFFER AT 0%
National Bank of Georgia (NBG) reported that its committee on financial stability decided today to keep the countercyclical buffer (macroprudential policy tool, defined for the first time in December 2017) intact, at the level of 0%.
As NBG noted, crediting continues growth with high pace and in October, excluding exchange rate effect, increased year-on-year by 18%.
ASSESSMENT OF PUBLIC EXPENDITURE AND FINANCIAL ACCOUNTABILITY WAS CONDUCTED IN TBILISI, BATUMI AND MARTVILI
Georgian Finance Ministry reported that presentation of assessment of public expenditure and financial accountability (PEFA) was held today for three municipalities – Tbilisi, Batumi and Martvili, being supported by the government of the country, the World Bank (WB) and the EU.
As the Ministry noted, assessment of PEFA was conducted in 2017 and 2018 in 15 municipalities and cities of Georgia.
NEW COMPONENT WAS ADDED TO “PRODUCE IN GEORGIA” STATE PROGRAM
Georgian Economy and Sustainable Development Ministry’s Agency Produce in Georgia declared that in 2019, new grant component “Produce for the Better Future” will be launched within “Produce in Georgia” state program.
As the Agency explained, the mentioned initiative envisages promotion of trade along division lines with occupied territories (Abkhazia, Tskhinvali region).
TREASURY SERVICES OF COMMERCIAL BANKS AND MICROFINANCIAL ORGANIZATIONS FOUNDED PROFESSIONAL ASSOCIATION
National Bank of Georgia (NBG) reported that treasury services of commercial banks and microfinancial organizations have founded professional association. One of the first tasks of the Association is introduction of principles of global code of foreign exchange market (FX Global Code) in Georgia.
MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: ARRANGEMENT OF WELLS FOR WATER SUPPLY TO VILLAGES NEARBY TO CONFLICT ZONE IS NEAR TO END
Works on arrangement of wells for water supply to 17 villages, located nearby to conflict zone in Shida Kartli region (municipalities Gori, Kaspi and Kareli) is near to end, Georgian Ministry of Regional Development and Infrastructure declared.
The Ministry said that works worth about 6 million lari are conducted by Georgian Municipal Development Fund through financing of European Investment Bank (EIB).
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