Tbilisi conference promoting trade of climate-friendly technology

The European Bank for Reconstruction and Development, the National Bank of Georgia and the International Chamber of Commerce are hosting a conference in Tbilisi on Thursday to promote trade of climate-friendly technology, the EBRD announced.

High-profile speakers, representatives from local small and medium-sized enterprises, commercial banks and business associations joined the conference, which has been entitled "Green Finance for Sustainable Economy", to discuss current trends in trade finance and development needs to mitigate climate change, the Bank said.

Georgian banks have the capacity to catapult the economy in the direction of sustainable growth. The renovation of housing, business operations and energy sources using climate-friendly technologies will create many new bankable opportunities. It will also broaden the range of avenues for raising green finance from international capital markets", the release also noted.

Catarina Bjorlin Hansen, the EBRD Regional Director for the Caucasus, said that the Bank was already providing "strong support to Georgia’s green ambitions".

"Sixty-one percent of our new financing in Georgia last year contributed to green economy transition objectives. We are implementing a number of initiatives on the policy front to advance the green policy agenda. I hope that today’s event will further contribute to the greening of Georgia’s financial system", she said.