Hungary's Eximbank offers $50 million to Georgia

The Hungarian Export-Import Bank (Eximbank) will offer $50 million USD (about 100 million GEL) to Georgia to support business development in the country.

The news was announced today at the Hungarian-Georgian business forum in Budapest, the capital of Hungary.

Georgia’s Prime Minister Irakli Garibashvili attended the event and expressed hope of Georgia developing deeper business relations and tighter trade-economic cooperation with Hungary.

Garibashvili spoke at the event and spoke highly of Georgia’s investment environment and encouraged the Hungarian business community to invest in Georgia.

Some of the positive aspects of Georgia were its strategic location, liberal tax system, developed transport infrastructure for trade, logistic and producing, iqualified labour force and easy access to financial and co-investment opportunities.

Because of this Georgia was an "attractive country” for European investors, Garibashvili said.

There is no doubt the Association Agreement (AA) signed between Georgia and the European Union (EU) provides better opportunities to optimise tighter business relationships between the Georgian and Hungarian business communities. Today, trade and investment opportunities are not fully utilised between the two countries [but] I do hope this process will be accelerated by the AA, which includes the Deep and Comprehensive Free Trade Area (DCFTA),” Garibashvili said.

Georgia’s Prime Minister invited Hungarian businessmen to Georgia and promised they would receive full support for doing business in Georgia.