Georgian government may issue Eurobonds in 2016 and is seeking additional financial resources from international institutions to cope with an economic slowdown triggered by problems in neighboring countries, Georgia’s Prime Minister said.
Giorgi Kvirikashvili said his government would conduct a series of road shows in the United States and elsewhere to attract foreign investment to an economy hit by financial problems in neighboring countries. “I can’t predict whether we will need to issue Eurobonds, but if speeding up infrastructure projects requires attracting additional investments, including via Eurobonds, of course, we will do that, maybe later this year,”-said Georgia’s PM.
In his words, the government planned to ask international institutions for additional financing for infrastructure projects. Georgia signed an agreement with the European Investment Bank (EIB) on a 150 million euro facility on Thursday for infrastructure upgrades, including reconstruction of the east-west highway and post-flood reconstruction in Tbilisi.
Kvirikashvili said Georgia could benefit from the free trade agreement by attracting investment from countries that do not have such an accord, and urged the EU not to delay the decision on visa-free travel.
Kvirikashvili believes that after the lifting of international sanctions, Iran could bring a new dynamism to the region.