Page 61 - GEORptSep21

EBRD extends €25mn loan to private operator Georgian Healthcare Group amid pandemic
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a $25mn loan to LSE-listed Georgian Healthcare Group (GHG), Georgia's largest, integrated healthcare services, pharmacy and medical insurance provider.
The financing was approved as part of the development bank's response to the coronavirus (COVID-19) pandemic, the EBRD said.
The loan is to finance GHG's short-term working capital and spending deemed critical amid the COVID-19 pandemic.
According to an official statement from the EBRD, GHG has an important state-aligned role in the fight against the health emergency. The company has adapted six large hospitals to meet needs of virus-infected patients in line with World Health Organization (WHO) guidelines.
The financing will support the implementation of COVID-19 testing at the country’s most advanced medical laboratory, at Megalab. It is also funded by the EBRD.
9.1.9 Agriculture sector news
Georgia expects annual wine exports to reach $1bn by 2031
Georgia plans to increase hazelnut exports to rank second in the world
The National Wine Agency of the Ministry of Agriculture of Georgia has reported that Georgian global wine exports continue to grow, posting a growth rate of 13% y/y to date this year, with exports to the US running 35% ahead of last year.
The improvement builds on five consecutive years of similar growth.
Georgian Prime Minister Irakli Gharibashvili said on August 13 that Georgian wine exports are expected to reach $1bn by 2031.
On August 2, Gharibashvili announced that the Georgian government would subsidise this year’s grape harvest.
The PM said that according to the plan the government would achieve a target of $1bn in terms of revenue from wine exports, the government press service noted. The head of government discussed the current situation in the industry with winemakers in terms of planned and already implemented projects for the development of the sector.
At his meeting with winemakers, Gharibashvili recalled that after 2012 the grape harvest increased from 52,000 tonnes to 300,000 tonnes, and new vineyards were planted on an area of 6,400 hectares.
According to the Georgian National Wine Agency, in 2019 the republic exported around 94mn bottles of wine worth $240mn. In 2020, the statistics were skewed lower due to the coronavirus pandemic. From January to July 2021, the country exported 55mn bottles to 58 countries of the world. The total cost of products was $125mn, which is 9% more than in 2020.
The largest buyers were Russia (over 33mn bottles), Ukraine (over 6.4mn bottles), and Poland (over 3.2mn bottles).
Georgia plans to increase its hazelnut production and exports until it reaches second place in the world rankings, Prime Minister Irakli Gharibashvili announced on August 26.
"Our task should be to step by step take second place in just a few years. We have an ambitious plan and vision to make Georgia the second largest producer of hazelnuts in the world," Gharibashvili told reporters.
On August 9, the EU decided to simplify export procedures for hazelnuts exported from Georgia.The examination frequency for Georgian hazelnuts will be reduced from 50% to 20%.
According to the prime minister, the hazelnut business is very successful in
61 GEORGIA Country Report September 2021 www.intellinews.com