Asian Development Bank invests $7.6mln to expand electric vehicle use, charging networks in Georgia
The ADB said it would allocate ₾20 million for deployment of zero-emission light, road, and non-road electric vehicles, and expansion of charging networks in Georgia by 70 new stations. Photo: ADB
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The Asian Development Bank on Tuesday announced it would allocate ₾20 million ($7.6mln) for deployment of zero-emission light, road, and non-road electric vehicles, and expansion of charging networks in Georgia by 70 new stations.
The money will be invested in inaugural two-year and six-month lari-denominated green bonds of Tegeta Motors, one of Georgia’s leading automotive products and services companies, the ADB said.
ADB is Asia and the Pacific’s climate bank, and this investment builds on our commitment to developing Georgia’s capital markets through our climate and gender bond issuance”, Suzanne Gaboury, the ADB Director General for Private Sector Operations, said.
Tegeta Executive Director Vakhtang Kacharava said the company was “dedicated to pioneering” the issuance of the green bonds to support domestic efforts to reduce greenhouse gas emissions.
Three Georgian institutions will receive four fuel-efficient cars purchased with a grant from the Japanese Government, after the vehicles were handed over in an occasion at Tbilisi International Airport on Thursday.
Construction permits issued in Georgia will require minimum energy efficiency requirements starting in July, the Ministry of Economy announced on Wednesday.
Regulations on vehicle emissions will be tightened across Georgia starting next year, the country’s Economy Ministry revealed on Thursday, noting the upper limit of carbon monoxide in emissions would be reduced as part of the changes.
126 new 12-meter gas operated buses will appear in Tbilisi, said Tbilisi Mayor Kakha Kaladze at a Tbilisi city government session earlier today.
Georgian Deputy Economy Minister Irakli Nadareishvili on Thursday said development of the domestic capital market was a priority for the Georgian Government and related to one of structural reforms of his Ministry.
Cooperation between Georgia and Japan in various fields was discussed on Thursday in a meeting between Prime Minister Irakli Garibashvili and the newly appointed Ambassador Ishizuka Hideki.
Lesley Bearman Lahm, the Country Director for Georgia at the Asian Development Bank, on Saturday said she was “proud” of the ADB’s cooperation with the Government of Georgia for the last 15 years, stressing the East-West highway project would strengthen the position of the country as a transit hub.