US-based Citigroup interested in investing in Georgian financial market development

Citigroup, an American multinational investment bank and financial services corporation headquartered in New York City, has expressed interest in investing in the Georgian financial market, as Georgian Prime Minister Giorgi Gakharia met with the group’s Vice Chairman Jay Collins on the sidelines of the World Economic Forum in Davos earlier today. 

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At the meeting Collins also expressed the group’s willingness to acquire a certain amount of securities issued by the State Treasury of Georgia.

Excellent discussion was held with the Prime Minister of Georgia on the economy and technologies… We also discussed investments and ways of attracting more investments to Georgia”, Collins said after the meeting.

Overall, it was an excellent meeting and we are delighted with all that is happening in Georgia", he added.

Citigroup is also considering to get involved in the digitalisation process of accounting and settlement of public funds and payment systems by deploying advanced technologies, thereby sharing its experience to Georgian counterparts, PM Gakharia's press office reported.

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It also noted that the group has expressed its interest in refinancing the securities of the Government of Georgia denominated in Euros (500 million-worth of Euro Bonds) scheduled to be issued in 2021 as well.