The Bank of Georgia put notes worth 500 million GEL (PDF) on the international market on May 24th, for the first time in history for denominated notes issued by a Georgian financial institute.
Prime Minister of Georgia Giorgi Kvirikashvili said this is one of the important steps towards developing the Georgian finance sector.
“This means that investors, who invest in our country, trust our currency,” PM Kvirikashvili said. “These are 3-year bonds with 11% profitableness, and will be a very important step ahead. It is the first time in history that Georgian national currency notes are on the international market.”
“What is most important is that the attraction of the money is not in a foreign currency, but in the national currency. This means that an investor who buys notes, knows that he will be paid that loan in GEL... It means the investor trusts the Georgian national currency and Georgia,” PM Kvirikashvili stated.