15.Nov .2021 01:46

Weekly Update on Local News

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Time for some more news from Georgia. The Asian Development Bank has approved a 101 million EURO loan to build and upgrade new and existing infrastructure in Georgia and enhance services in urban centers to boost economic opportunities and improve quality of life. The project will upgrade city centers, public spaces, parks, and public transport to improve mobility. The project will construct libraries, e-learning centers, kindergartens, sports complexes, and other community buildings. The project will also support the rehabilitation of cultural sites, historical town centers, and other tourism facilities. Transport systems such as the Tbilisi Metro will be upgraded to improve connectivity and boost tourism.

Deputy Minister of Finance Mirza Gelashvili can’t agree that the IMF new program is delayed. “We already had preliminary talks and the visit of the first mission is scheduled for the second half of this month. We will agree on the main directions and benchmarks of the program," - said the Deputy Minister. The President of the National Bank made a statement a few weeks ago about the launch of a new program of the IMF. Koba Gvenetadze says that against the background of political tensions in the country, the IMF program is needed. The program with the International Monetary Fund was completed in early 2021.The First Deputy Minister of Finance Giorgi Kakauridze declares that next year the Government of Georgia will subsidize utility fees only for socially vulnerable citizens. In 2021, the government covered utility fees of certain citizens based on their level of consumption of power and gas. Electricity fees were covered for households which consumed less than 200 kWh of electricity and 200 cubic meters of natural gas per month. “In general, there will be a decree in the country that will determine the future increase of utility bills for the socially vulnerable, especially when the energy exchange is launched”, - Kakauridze said.

GM Pharma stepped out on the international pharmaceutical exhibition #CphIWorldWide with the status of a leading company of Georgia’s pharma sector. The exhibition was held in Milan from November 9 to 12. Company says, meetings were successful and GM Pharma has come one step closer to its main goal - to expand on the EU market from 2023. CPhI WorldWide is a global platform which unites thousands of pharmacologists and suppliers globally. The aim of the exhibition is to create a joint space of cooperation for the pharmaceutical business representatives - both producer and procurement companies. The aim of the company while participating in this exhibition was to strengthen cooperation with globally acknowledged pharmaceutical companies and explore new cooperation opportunities. GM Pharma is a 100% Georgian capital pharmaceutical company with the strategic goal to enter the EU market.