The controversy was sparked by Shalva Papuashvili’s statement that German Ambassador Peter Fischer “would not personally have the desire to attend the Independence Day event” because he “takes the oath of the squadrons of contempt.”“As for the statement of the Speaker of the Parliament of Georgia, we recommend checking the facts. The facts are that Germany has been a large and leading supporter of the Georgian Defense Forces for decades. This can be easily verified with the Ministry of Defense. Everything else is disinformation,” the embassy said in a statement.The embassy did not specify whether the ambassador attended the May 26 event, although according to available information, Peter Fischer was not at the ceremonial ceremony. At the same time, the speaker of the parliament stated that an official invitation had been sent to all diplomats.The German mission emphasizes that the country’s goal is to continue friendly cooperation with Georgia and that the diplomatic mission avoids getting involved in any domestic political discussions.
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The financing package includes: Up to 75% of the funds designated for on-lending to MSMEs, with at least 10% specifically for women-owned businesses and at least 25% allocated for green finance projects, such as renewable energy and energy efficiency. Up to $125,000 in technical assistance from ADB to strengthen Ameriabank’s sustainability framework and systems. “This project will expand access to finance for MSMEs – especially women-owned enterprises – while advancing green investments in Armenia. By providing longer-term financing, we are supporting businesses to grow, create jobs, and contribute to a more inclusive and climate-resilient economy”, - Lyaziza Sabyrova, ABD’s Armenia Country Director, said.Hovhannes Toroyan, Chief Financial Officer at Ameriabank, commented: “We are delighted to strengthen our partnership with the ADB in supporting MSMEs across Armenia through greater access to affordable financing. As Armenia’s largest lender, with a strong focus on green and sustainable finance, we remain committed to driving inclusive growth and supporting the country’s long-term economic development.”“We are delighted to deepen our partnership with ADB. This facility will enable Ameriabank to continue empowering entrepreneurs across the country. The dedicated funding for green projects and women-owned enterprises underscores our shared commitment to building a sustainable and inclusive economy. I would also like to thank the teams involved for their collaboration and continued support throughout the process”, - Giorgi Shagidze, CFO of Lion Finance Group PLC, declared.
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According to the Government’s Parliamentary Secretary, Vakhtang Bachiashvili, the new legislation will distinguish between improper fulfillment of obligations and dishonest actions committed in order to obtain a contract.Under the current law, being on the blacklist restricts access to state contracts for a period of one year. According to the new draft, in case of detection of dishonest actions, the period of prohibition from participating in procurements will be increased to two years. In addition, this restriction will apply not only to the company itself, but also to its founder and partner.The second part of the legislative amendments concerns the promotion of the development of small and medium-sized businesses, which involves the institutional introduction of the concept of a subcontractor and the creation of a legal framework for its use.After the adoption of the draft law, the rules for relations with subcontractors will be established, including the mechanisms for their selection, distribution of responsibility and control. According to the government, the reform is expected to increase the economic capabilities of both small and medium-sized businesses and the efficiency of the public procurement system as a whole.
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According to the Investigative Service, none of the sanctioned companies had Georgia as their area of operation.“Investigation has established that Aifory LLC and ARVIX LLC were fictitiously registered in the names of other individuals in exchange for a certain fee, whilst in reality operating out of Moscow, Russia, and possessing neither assets nor offices in Georgia. In the criminal case on these matters, a court verdict of April 28, 2026, imposed fines of 30,000 lari and suspended sentences on three of the accused, whilst Davit Jinchaladze, the organiser of the criminal scheme, was sentenced to nine years and six months’ imprisonment.Regarding the unlawful activities of Rapira Group LLC, it has been determined that the company, registered via a power of attorney by a British national, operated solely through the website ‘rapira.net’. The site exclusively served Russian citizens, and its domain was registered with a Russian registrar. The company has no recorded banking transactions, assets, or offices on Georgian territory, and its registration was purely formal.The Investigative Service of Georgia’s Ministry of Finance, in coordination with international partners, continues its active work in combating financial and cybercrime, as well as in preventing and suppressing any attempts to circumvent international sanctions,” the statement reads.
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Lion Finance Group (BGEO LN) shares closed at GBP 106.40/share (-1.85% w/w and -5.59% m/m). More than 331k shares traded in the range of GBP 105.00 - 111.80/share. Average daily traded volume was 60k in the last 4 weeks. The volume of BGEO shares traded was at 0.77% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 43.84/share (- 4.24% w/w and -12.41% m/m). More than 362k shares changed hands in the range of GBP 43.00 - 46.86/share. Average daily traded volume was 61k in the last 4 weeks. The volume of TBCG shares traded was at 0.65% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 39.50/share (-2.11% w/w and -5.62% m/m). More than 182k shares traded in the range of GBP 38.90 - 41.70/share. Average daily traded volume was 62k in the last 4 weeks. The volume of CGEO shares traded was at 0.53% of its capitalization.
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Compared to the corresponding quarter of the previous year, the unit cost index of agricultural production increased by 15%.The increase in the index was mainly due to an 11.5% increase in the cost of live animals and animal products, which contributed 6.8 pp to the change in the total index.During the same period, the value of annual crops increased by 23.2 percent, and the value of perennial crops by 14.4%, which contributed 3.92 and 4.27 percentage points to the change in the total index, respectively.
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Valerian Gabunia to replace Eter Iremadze at the Bank of Georgia
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QR code becomes mandatory on alcoholic beverage bottles
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Bank of Georgia Raises $45 Million from Citi and ADB for Trade Finance
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Over 68% of SME loans are in foreign currency
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Megrelishvili leaves TBC Bank, Guy Stevens Replaces Him
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