In a very significant development the Asian Development Bank has invested USD 40 million in the bonds. The bonds were issued by the GGU (JSC Georgia Global Utilities) and aimed to improve the water supply system in Tbilisi and other municipalities of the surrounding areas.
These are the largest green-certified bonds issued by a private corporation in Georgia. The amount will also be utilized to enhance the resilience of surface and underground water resources to counter the threat of climate change.
It should be mentioned explicitly that this investment is part of a five-year plan with a total $300 million bond placed by GGU. The money will mainly be utilized for providing better water arrangements to citizens of the capital Tbilisi, and another 1.4 million residents of surrounding municipalities.
Notbaly since the year 2019 the Asian Development Bank leading the race for the (ESG) bond market in Georgia. The bank has also played a crucial role in the implementation of significant transactions. These transactions include the first and largest green, gender, and sustainability bonds denominated in US dollars and local currencies.
The main objective as mentioned above of the green bond is to finance major investments with a special focus on clean drinking water for the population of Georgia. It will also help the country to overcome the negative consequences of climate change.”
As per Isidoro Marban CFO of FCC Aqualia SA this investment amount will promote sustainable financial instruments. He also thanked the ADB for its support of climate investments. Since 2011 the ADB has invested $800 million in various sectors of Georgia and helped to increase the country’s climate resilience. It is also worth mentioning that Aqualia Georgia LLC and Georgian Capital JSC own GGU.
The company is known as one of the largest and most diverse investment companies in Georgia. It also operates in as many as 18 other countries. ADBs have the specific objective of making efforts for the successful, multilateral, sustainable and sustainable development of the Asia-Pacific regions.
