NEWS

ADB offers $100 mln to strengthen Georgia's electricity transmission sector

Under its Electricity Transmission Sector Reforms Programme, ADB will support institutional reforms in the Georgian State Electrosystem (GSE). Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 21 Sep 2021 - 15:36, Tbilisi,Georgia

The Asian Development Bank (ADB) has approved a $100 million policy-based loan to strengthen Georgia's electricity transmission sector by improving the operational structure, corporate governance, and financial management of the country’s electricity transmission company and its subsidiary, announces the ADB.

Under its Electricity Transmission Sector Reforms Programme, ADB will support institutional reforms in the Georgian State Electrosystem (GSE) helping to transform it into a modern, operationally efficient and financially sustainable corporate entity.

ADB says that GSE and its subsidiary EnergoTrans currently rely heavily on government funding and external borrowing and have accumulated substantial debt to support upgrades and the expansion of transmission infrastructure.

“This programme will help improve the financial sustainability and performance of Georgia’s energy sector and free up fiscal space to allow the government to better allocate resources to critical areas such as the Covid-19 economic recovery,” said ADB Principal Energy Specialist Adnan Tareen.

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