New hospital for Georgia built with EBRD and Aversi investments

A new clinic worth $12 million USD will be built in Georgia, announced Georgia’s Economy Minister Giorgi Kvirikashvili today at the Annual Meeting of the European Bank for Reconstruction and Development (EBRD).

This was one of several projects to be implemented in Georgia based on investment agreements signed during the EBRD 24th Annual Meeting and business forum, currently being held in Georgia’s capital Tbilisi.

The new clinic will be built on the site of Tbilisi’s Infectious Clinic Hospital.

The project will be financed by EBRD and Georgian pharmaceutical company Aversi Pharma. EBRD agreed to provide a $10.9 million USD loan to Aversi Pharma to support a modernisation plan for local hospitals and the improvement of pharmaceutical supplies.

This will be a modern clinic equipped with international standard equipment. The project implementation process will start in the nearest future,” Kvirikashvili said.

The loan will be used for the refurbishment of an infectious diseases hospital with 135 beds in Georgia's capital Tbilisi, and the construction of a general paediatric and maternity hospital with 84 beds in Marneuli, in the south of the country. Part of the loan will be used to procure pharmaceuticals and improve the supply of medicine to patients.

"We are proud to team up with Aversi today, a pioneer in the Georgian health care sector. Aversi is a strong and competitive company which provides essential services in this field to the Georgian population. We are impressed by the company’s vision, ambition and its striving for excellence,” said EBRD First Vice President Phil Bennett.

Paata Kurtanidze, founder and shareholder of Aversi Group commented: "It is a great pleasure to complete this important agreement with the EBRD which will enable us to grow our business and further increase patient satisfaction. We hope that this will be a building block in a long-term relationship with the EBRD and we will have the opportunity to work together on many interesting projects in future,” he said.

At the EBRD business forum Georgian companies got the opportunity to present their projects in a bid to attract finances. One of the presented projects was the new clinic investment project.