Georgia and the European Investment Bank join forces for a green future

The National Bank of Georgia and the European Investment Bank continue joint projects for greening the country's financial system and combating climate challenges. Recently, the Acting Vice President of the National Bank, Natia Turnava, met with a representative of the European Investment Bank, Machie Chura, to discuss monetary policy and current macroeconomic trends.

The main subject of discussion was the project of developing climate scenarios for Georgia. This ambitious project also includes assessing the vulnerability of the country's commercial banks under these scenarios and conducting climate stress testing. The goal is to create a basis for analyzing the financial climate and adapting to changes in the climate sphere.

"The project started last year, and we expect the first results by the end of this year. The cooperation agreement with the EIB includes the above-mentioned project and other issues of cooperation in the direction of "greening" the financial system of Georgia. I hope that the close cooperation with EIB will continue in the future," said Turnava.

Cooperation between the European Investment Bank and Georgia began in 2007, and since then the bank has provided financial support to the country in the amount of about 1.85 billion euros. These investments were aimed at infrastructure projects, support for small and medium-sized businesses and the development of a "green economy".

Today Georgia continues to actively work with the European Investment Bank, striving to implement projects that contribute to sustainable development, environmental protection and adaptation to climate change. One of the priorities is to ensure economic stability and well-being of the country's citizens in the face of global climate challenges.