Georgian Finance Minister talks Georgia’s green energy potential at EBRD Annual Meeting, Business Forum
Georgian Finance Minister Lasha Khutsishvili spoke about his country’s potential in generating green energy at the European Bank for Reconstruction and Development's Annual Meeting and Business Forum in Morocco. Photo:Ministry of Finance.
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Georgian Finance Minister Lasha Khutsishvili spoke about his country’s potential in generating green energy at the European Bank for Reconstruction and Development's Annual Meeting and Business Forum in Morocco, the Ministry said.
Khutsishvili spoke in a plenary session on Wednesday, making comments on green energy generation and the significance of strengthening Georgia’s energy independence.
We are ready to develop a legislative framework that encourages investment in renewable energy. The Black Sea floor cable project also has a great potential, as it plays an important role in connecting [Georgia] to the European network,” the Minister noted in comments on ongoing and planned initiatives.
It is necessary to continue structural reforms to strengthen the economic foundation of the country and increase resilience to shocks. I hope that we will continue to work closely together and come out of the crisis with a stronger position," Khutsishvili said.
He also made remarks on Georgia’s “strong support” for Ukraine's sovereignty and territorial integrity and the importance of the implementation of international sanctions against Russia for its invasion of the country.
As part of the EBRD Annual Meeting and the Business Forum, Khutsishvili is scheduled to meet the Bank’s First Vice President Jürgen Rigterink, with a meeting with representatives of the Japan Bank for International Cooperation is also scheduled.
The Georgian official is taking part in the event hosted between Tuesday and Thursday with the theme Responding to Challenges in a Turbulent World.
Industrial production of wind power plants in Georgia is set to begin following the signing of a memorandum between the country Economy Ministry, the State Military Scientific Centre Delta and Georgian Wind Energy Association on Wednesday.
New solar, wind and hydropower projects with a total investment volume of $200 million will be implemented in Georgia to support the development of renewable energy and ensure the country's energy independence, the Government revealed on Tuesday.
The German Government will allocate €1.3 million through the German Development Bank to support the introduction of the green hydrogen technology and develop relevant conducive legal framework in Georgia, the Embassy of Germany announced on Tuesday.
An agreement on a €2 million programme on developing sustainable energy in Georgia was signed on Thursday between Levan Davitashvili, the Georgian Economy Minister, and Jeppe Kofod, the Danish Foreign Minister.
Georgian Finance Minister Lasha Khutsishvili will hold the position of the Vice Chairman of the European Bank for Reconstruction and Development Board of Governors throughout 2022-2023, the Ministry of Finance has announced.
About 200 officials from over 70 companies operating in the oil and gas industry are gathered in the Georgian capital of Tbilisi to attend the 54th Meeting of the Continental Europe Energy Council between Friday and Saturday.
Georgian Prime Minister Irakli Garibashvili and members of the Government's Economic Council met on Saturday to review steps and measures to be made towards ensuring growth in the country, the Government Administration said. Rising trends in tourism figures, and future prospects in the sector were also reviewed by officials.
A fresh project funded by the European Union will aim to create an energy regulatory environment for digitalisation in Georgia following its launch by the Georgian National Energy and Water Regulatory Commission, the body said on Thursday.
Georgian Energy Exchange will become fully operational in September, aiming to ensure transparent and competitive markets and provide accurate price signals to existing and potential market participants, Economy Minister Levan Davitashvili announced on Wednesday.
Georgia and the Reconstruction Credit Institute of Germany on Wednesday signed an agreement on financing the Open Energy Efficiency Programme in Georgian Public Buildings, aiming to rehabilitate and improve energy efficiency in public schools of the country.
Odile Renaud-Basso, the president of the European Bank for Reconstruction and Development, has pledged the institution’s support for the Georgian government to turn the country into a logistics hub by strengthening intra-regional connections amid increased demands on alternative routes connecting Europe with Asia on the backdrop of Russia’s invasion of Ukraine.
Odile Renaud-Basso, the president of the European Bank for Reconstruction and Development, on Thursday pledged the institution’s “continued support” for Georgia's economic advancement in the wake of the bank’s investment of €4.9 billion in 270 projects in the country, the Georgian ministry of economy said.
Georgian prime minister Irakli Garibashvili on Tuesday announced that the government would present the vision of energy development to society and business “in just a few weeks”, no later than November and would begin its implementation in the “near future”.
Georgian finance minister Lasha Khutsishvili on Wednesday reviewed the post-pandemic economic challenges in the country in his address at the Organisation for Economic Co-operation and Development high-level panel discussion on Overcoming the Current and New Challenges of Transparency and Information Exchange.
The cooperation in the field of taxation between Georgia and Spain was discussed on Wednesday by the Georgian finance minister Lasha Khutsishvili and his Spanish counterpart María Jesús Montero, the finance ministry said.