Georgian Water and Power to receive €60m from international financial institutions
Tweet 
Share
Georgian Water and Power (GWP), a leading company on the water supply market of Georgia and the South Caucasus, will receive about €60 million from international financial institutions to ensure the development of the water supply of the country.
More specifically, the Netherlands Development Bank (FMO) will offer $40 million equivalent in Georgian national currency to GWP, while the German Investment and Development Society (DEG) will allocate a €25 million long-term loan to the company.
With this money the GWP will finance the modernisation of the Gardabani treatment plant, water supply network rehabilitation and construction of the Bodorna power plant. Photo by Georgia's Finance Ministry.
The funding agreement was signed yesterday between the sides.
Meanwhile, the GWP has also signed an agreement with the International Finance Corporation (IFC) to help conserve resources and become more energy efficient, improving its competitiveness and environmental performance.
With IFC’s advice, GWP will benchmark its energy consumption against global and regional peers, and identify opportunities to save water, lower energy costs, and increase efficiency.
The Parliament of Georgia approved President Giorgi Margvelashvili’s nominee, a Harvard University graduate, Maya Mellikidze, as a new member of the country’s National Energy and Water Supply Regulatory Commission today.
Nearly 62,000 households in three Georgian towns will soon enjoy a clean, reliable water supply.
Georgia is pumping money into Gudauri - Georgia's winter wonderland - to improve the infrastructure and the lives of local people and better serve more than 7,000 tourists who visit the resort each year.
For the first time ever about 5,500 residents of Tsnori village in Georgia’s Kakheti region will have access to a clean, 24-hour water supply thanks to a new project and financial contribution of the European Investment Bank (EIB) and the European Union (EU).
Employees of Georgian Water and Power (GWP), one of the leading water supplier companies in the South Caucasus, have gone on strike complaining about working conditions and demanding an increase in salaries. The employees on strike told Formula TV that they don’t have health insurance and the company management does not allow them to use free vacation provided by the Labor Code.
Georgia’s ski resort of Gudauri will benefit from continuous water supply as part of a ₾22 million ($8,486,017) project initiated by Prime Minister Irakli Garibashvili.