The Pension Agency of Georgia on Wednesday announced an inaugural investment of GEL 150 millionin a five-year lari-denominated Floating Rate Note under the European Bank for Reconstruction and Development’s Global Medium Term Note programme.
The Agency added the AAA-rated transaction enhanced the quality of its portfolio and marked the beginning of a long-term partnership with the EBRD.
"The investment in EBRD bonds reflects our commitment to high-quality Investments that strengthen the Pension Assets’ stability. This collaboration also opens doors for future opportunities that will support the development of Georgia’s capital markets”, Goga Melikidze, Chief Investment Officer of the Agency, said.
Aziz Jurayev, the EBRD’s Associate Director of Treasury, added the “milestone transaction” for the Agency was a continuation of the Bank’s efforts to reduce reliance on foreign currency borrowing in the countries where it operates and to encourage borrowers to raise finance in local currency.
