EBRD pledges financial support to firms in Georgia to deal with coronavirus crisis
The EBRD has made available an emergency Solidarity Package of €1 billion for its existing clients across 38 economies, including clients in Georgia. Photo: Nino Alavidze/Agenda.ge.
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The European Bank for Reconstruction and Development (EBRD) is pledging financing to help firms in Georgia deal with the impact of the coronavirus outbreak, announces the EBRD.
We are stepping up our support to ???????? #Georgia, as the economy faces the challenge of #coronavirus outbreak.
— The EBRD (@EBRD) April 6, 2020
Our @MatteoPatrone3 said #EBRDsupport is available for our clients, we're prepared to step up our efforts w/ @mofgeorgia
????: https://t.co/fEVvmyp6nS#CoViD19Response pic.twitter.com/f2cjnOE21f
The EBRD has made available an emergency Solidarity Package of €1 billion for its existing clients across 38 economies, including clients in Georgia.
The financial assistance provided by the EBRD, will help the country ensure its economic stability during the global challenges caused by the coronavirus. I hope with the help and efforts of our international partners, the Georgian economy will be able to face this global challenge with as little loss as possible", said Georgian Finance Minister Ivane Matchavariani.
EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone reconfirmed the bank’s commitment to supporting the Georgian economy, especially in times of crisis.
We are prepared to step up our efforts, together with the Georgian authorities, to support the economy", he said.
The EBRD’s support includes measures such as emergency liquidity, working capital and trade finance. The bank is working with the commercial banks to support access to finance for the private sector, especially for the small and medium sized enterprises.
In addition, Patrone and Matchavariani discussed speeding up the development of several projects to secure job creation.
For example, the EBRD is currently working on designing a new framework to support all municipalities across the country with improved access to infrastructure. The EBRD is also working to support the upgrade of the electricity grid to further support the renewable energy generation sector.
The International Monetary Fund (IMF) is working with the Georgian authorities to provide 'additional financing' to contain the spread of the coronavirus and support the Georgian people and economy, announced the Mission Chief for Georgia at the International Monetary Fund (IMF) Mercedes Vera-Martin in a statement published on March 30.
The United States Government is providing $1.1 million assistance to Georgia in response to the COVID-19 pandemic. This will help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication and more
The World Bank is offering €45 million to support Georgia implement ongoing reforms in areas critical for inclusive economic growth and also assist in the country’s efforts to mitigate the economic impact of the COVID-19 pandemic.
The United States Centers for Disease Control and Prevention (CDC) has trained over 200 professionals in Georgia to strengthen the fight against COVID-19, announces the US Embassy in Georgia.
The European Commission will provide up to €75,000 (256,005 GEL) to the Global Hack, an online hackathon which aims to rapidly develop ideas for urgently needed solutions in the current coronavirus pandemic.
The European Union Commissioner for Neighbourhood and Enlargement Olivér Varhelyi has confirmed to Georgian Prime Minister Giorgi Gakharia during a video conversation today that the EU “continues to stand by partners in the fight against the coronavirus outbreak”, as part of its global response to the pandemic.
Georgian Prime Minister Giorgi Gakharia held a video conference with representatives of local analytical and research organisations to set goals for countering the economic crisis amid the coronavirus pandemic.
The presidents of the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) have promised to help the Georgian economy recover in a video conference with Georgian Prime Minister Giorgi Gakharia earlier today.
The government of Poland has gifted over 500 liters of disinfectant, 22 units of spraying equipment and three heating devices for field tents to the Emergency Management Service of Georgia to help the country fight against the spread of coronavirus.
The European Bank for Reconstruction and Development (EBRD) and the National Bank of Georgia (NBG) are increasing the availability of the Georgian national currency, the lari (GEL), to private companies in a joint move to support businesses suffering from the impact of the coronavirus pandemic, announces the EBRD.
The European Bank for Reconstruction and Development (EBRD) will allocate €90 million to finance a project which aims to strengthen the energy network in Georgia and to construct energy transmission lines in the country.
Georgia's COVID-19 crisis management is among factors creating a promising investment climate for the country in the wake of the pandemic, Catarina Bjorlin Hansen, Caucasus Regional Director for the European Bank for Reconstruction and Development, said on Saturday.
The European Bank for Reconstruction and Development (EBRD) is providing a €5 million loan to improve public transport and services in the Georgian popular ski resort of Bakuriani.
The President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso has praised the Georgian government’s effort against the Covid-19 crisis and reaffirmed the readiness of the EBRD to continue supporting Georgia in overcoming the challenges posed by the coronavirus.
In order to overcome challenges caused by the coronavirus pandemic, Georgian Finance Minister Lasha Khutsishvili has introduced new tax initiatives today.