18.May .2020 16:17

EBRD to allocate financial resource of 10 million EUR for Georgian Air Navigation

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EBRD to allocate financial resource of 10 million EUR for Georgian Air Navigation.

The Project will aim to address the urgent need of liquidity support to Georgian Air Navigation in the period of unprecedented economic impacts of COVID-19 crisis. The proposed transaction is in line with the Vital Infrastructure Support Programme (VISP) under the Bank's COVID-19 Solidarity Package.

The goal of the Project is to support the Georgian Air Navigation (the "Company") to overcome a temporary shock and focus on its key functions.

To note, Georgian Air Navigation - Sakaeronavigatsia Ltd., is fully owned by the Government of Georgia and is the national provider of air traffic navigation and monitoring services in the country.