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4.3 Fixed investment
Georgia -Fixed capital 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 investment
Gross fixed capital formation (GEL mn)
3,520.3 2,458.8 3,190.9 3,136.7 3,292.4 2,213.3 2,984.2 3,215.3
Source: CEIC
EBRD makes 1bn available as emergency measure to fight coronavirus impact
The European Bank for Reconstruction and Development (EBRD) has unveiled an emergency €1bn “Solidarity Package” of measures to help companies in its regions deal with the impact of the coronavirus pandemic, the bank said in its March 13 press release.
“This is an initial response to the crisis and the Bank stands ready to do more if and when needed,” the bank said in a statement.
The bank has major investments across 38 emerging economies in Emerging Europe, Eurasia and North Africa. In many markets such as Ukraine, it is the single biggest investor and counts banks, agricultural companies, manufacturers and renewable energy producers among its partners.
Under the emergency programme, the EBRD will set up a “resilience framework” to provide financing for existing EBRD clients with strong business fundamentals experiencing temporary credit difficulties, the bank said.
Commenting on the EBRD’s response to the global health crisis, EBRD President Sir Suma Chakrabarti said: “The COVID-19 pandemic and its economic consequences present an unprecedented challenge to the EBRD and its countries of operations.”
He added: “To respond in solidarity with its shareholders, countries of operations, partners and clients, the Bank has today established a resilience framework comprising €1bn of new and additional funding for existing clients, comprising emergency liquidity, working capital and trade finance. This is a first step. The Bank stands ready to further scale up its response, and is taking active and urgent steps to review, adjust and expand its financing instruments, in partnership with its countries of operations, partner IFIs and the international community.”
The planned measures will include an expansion of trade finance and the
15 GEORGIA Country Report April 2020 www.intellinews.com
