According to the 2026 budget, the Georgian government intends to take out new foreign loans totaling 3.26 billion GEL, an increase of 1.44 billion GEL compared to 2025. A major portion of this borrowing will refinance the $500 million Eurobond issued in 2021, with the new security planned for issuance in spring 2026.
The remaining funds will finance key infrastructure projects, including the construction of a high-speed highway, expansion of the Tbilisi Metro, development of high-voltage power lines, regional water supply systems, a universal internet program, and railway sector reforms.
The Asian Development Bank (ADB) is expected to be the main creditor next year, with more than 500 million GEL in funds allocated from it.
Other significant lenders include the World Bank, KFW, the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD).
