The European Bank for Reconstruction and Development (EBRD) is investing US $40 million to fund water network infrastructure in Tbilisi.
The EBRD participated in the green Eurobond issue by Georgia Global Utilities (GGU), with an investment of US $40 million of the total US $300 million offering. GGU will invest the proceeds to improve the water-network infrastructure in the Georgian capital Tbilisi.
The project is the first green bond under EBRD Green Cities, a programme that has already supported eight projects in Tbilisi through the flagship Green City Action Plan. The project will target investments in the water sector and address key environmental challenges, such as water losses.
The EBRD is a leading institutional investor in Georgia. To date, the Bank has invested more than €5 billion in 299 projects in the financial, corporate, infrastructure and energy sectors, with 82 per cent of those investments in the private sector.
