Georgian Water and Power to receive ˆ60m from international financial institutions

Georgian Water and Power (GWP), a leading company on the water supply market of Georgia and the South Caucasus, will receive about ˆ60 million from international financial institutions to ensure the development of the water supply of the country.

More specifically, the Netherlands Development Bank (FMO) will offer $40 million equivalent in Georgian national currency to GWP, while the German Investment and Development Society (DEG) will allocate a ˆ25 million long-term loan to the company.

The funding agreement was signed yesterday.

Meanwhile, the GWP has also signed an agreement with the International Finance Corporation (IFC) to help conserve resources and become more energy efficient, improving its competitiveness and environmental performance.

With IFC’s advice, GWP will benchmark its energy consumption against global and regional peers, and identify opportunities to save water, lower energy costs, and increase efficiency. (Agenda.ge)