Page 20 - GEORptNov18
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4.3   Fixed investment
Georgia -Fixed capital investment 2012 2013 2014 2015 2016 2017 1Q18 2Q18
Gross fixed investment capital formation (GEL mn)
3,936.1 3,540.5 4,260.5 3,951.7 4,358.8 4,481.7 989.6 1,304.6
Gross fixed capital formation (% of GDP)
28.8% 24.6% 29.5% 31.3% 32.4% 31.6% 31.1% 35.8%
Source: CEIC
EBRD and Green Climate Fund to help cities in 9 countries to address climate change
The European Bank for Reconstruction and Development (EBRD) said on October 19 it will support climate-focused sustainable urban development in Albania, Armenia, Georgia, Macedonia, Serbia, Moldova, Jordan, Tunisia and Mongolia.
The support will be given with an €87mn contribution received from the Green Climate Fund (GCF) through the EBRD’s Green Cities Facility.
“EBRD and GCF financing will help cities and municipal utility companies to tackle their most pressing climate challenges such as greenhouse gas emissions, climate change adaptation, energy intensity, solid waste management, replacement of inefficient street lighting and water service management,” the lender said in the statement.
Cities, which account for around 70% of CO 2  emissions, will develop Green City Action Plans (GCAPs) to identify priorities and actions to overcome environmental, social and economic challenges.
The GCF support will complement the EBRD’s financing through concessional lending, investment grants and providing technical assistance to cities in the nine target countries.
In the period 2016-2018, the EBRD expects to invest around €2.5bn into municipal projects that reduce CO 2  emissions by about 800,000 tonnes per year.
The approval of the €87mn was the first tranche towards the total of €228mn requested. The full facility will benefit an estimated 23mn people and lead to almost 12mn tonnes of CO 2  savings, which is equivalent to the greenhouse gas emissions from over 2.3mn passenger vehicles driven for one year.
20  GEORGIA Country Report   November 2018    www.intellinews.com


































































































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