BOGG Management Granted 2024 Bonus Options

“Political leaders shouldn’t fear the Georgian people. Georgian civil society are fiercely independent actors,” Shaheen wrote on X. "The Georgian Dream fast tracking another draft law to stifle NGO operations is one more step away from the democratic future the Georgian people want. Political leaders shouldn’t fear the Georgian people. Georgian civil society are fiercely independent actors." -@SenatorShaheen https://t.co/2ZH0vrj4gY — Senate Foreign Relations Committee (@SFRCdems) April 16, 2025 The Parliament has urgently considered and approved a legislative package in the third reading, after which international donor organizations will no longer be able to issue grants without the consent of the government. The same bill prohibits international organizations from organizing lectures, seminars or other similar public events in favor of political parties.80 deputies unanimously supported the approval of the planned amendments to the Law on Political Associations of Citizens, the Law on Grants and other related laws.

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In the leisure sector, particularly in hotels, spending grew by 16%, which was driven by non-residents’ increased spending. Non-residents’ average transaction in hotels was approximately 3 times higher compared to residents’ figure this month.In March 2025, an annual increase of 38% was observed in non-cash spending in restaurants, while the average transaction stands at GEL 30. During the same period, the average non-cash transaction volume by non-residents in restaurants is almost 4 times higher than the residents’ figure.Consumers spent 30% more on apparel and accessories in March 2025 compared to the previous year. Notably, non-residents experienced a 51% increase in spending, although their overall impact is limited, due to their small share of total spending in the sector.

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Teimuraz Lezhava, Georgia’s Ambassador to Japan, attended ProWein Tokyo. The Embassy of Georgia in Japan also helped Georgian businesspeople promote their wines at the event.An instructive master class and tasting of Georgian wines were also held in Tokyo, attended by 30 wine professionals, media representatives, and business leaders.The tasting featured seven different Georgian wines. Japan is a critical market for Georgian wine.The National Wine Agency supported the first large-scale exhibition of Georgian wines in 2014.

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The project will enhance the country’s electricity grid’s ability to integrate a higher level of renewable energy by adding a 200MW/200MWh Battery Energy Storage System (BESS) to its transmission network at the Ksani Substation near Tbilisi. The facility will improve energy security, reduce Georgia’s reliance on grid stability support from neighboring countries, and pave the way for greater private sector participation.“ADB has been a long-standing partner in supporting Georgia’s efforts to strengthen its energy sector,” said ADB Country Director for Georgia Lesley Bearman Lahm. “This new project marks another significant step toward enhancing the country’s energy independence. With abundant clean energy potential and ambitious development goals, Georgia is well positioned to unlock greater economic benefits from its renewable resources.”Increasing electricity consumption, changing precipitation patterns, and water availability pose substantial risks to hydroelectric power, which the Georgian energy sector heavily relies on. Advanced technologies like BESS and green hydrogen are critical to addressing climate change risks and providing sustainable energy to the population.ADB also approved a grant-based Technical Assistance (TA) of $400,000 to support Georgia’s efforts toward development of green hydrogen. The TA will assist the government in identifying the hydrogen potential and necessary requirements for encouraging private sector participation. “We see strong potential for developing green hydrogen in Georgia,” said ADB Principal Energy Specialist Adnan Tareen. “Surplus energy generated during peak seasons can be converted to green hydrogen and traded on EU energy markets, strengthening Georgia’s energy system and creating new economic opportunities.”The project will introduce improvements in the legal and regulatory framework necessary for the inclusion of storage technologies like BESS and green hydrogen into the network. This will facilitate private sector investments in renewable energy penetration and the development of larger BESS facilities and green hydrogen.The project supports the Georgian government’s goals of reforming the energy sector, emerging as a regional platform for trading clean energy, and improving the efficiency of the transmission network, as reflected in ADB’s Country Partnership Strategy for Georgia, 2024-2028.The Ministry of Economy and Sustainable Development will oversee the project execution and implementation of policy reforms envisaged under the project, while the Georgian State Electrosystem will act as the Implementing Agency.

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According to the NBG press office, the discussion focused on long-term collaboration and the EBRD’s role in the growth of Georgia’s financial industry.“Natia Turnava highlighted the assistance provided by the EBRD in the development of financial and capital markets and noted that the National Bank appreciates and welcomes EBRD initiatives aimed at supporting the country’s central bank,” reads the statement.

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The Georgian Dream parliament supported the bill in its third reading on Tuesday.According to the explanatory note, increasing the maximum total amount of microcredit to be issued by microfinance organizations from GEL 100,000 to GEL 200,000 will help them retain their clients.However, it is also noted that in parallel with the increase in the limit, “the impact of the risk of large loans on the microfinance organization should be taken into account and the increased risk should be limited by the amount of capital. Limiting this risk will help microfinance organizations with small capital not take on more risk than they can afford,” the explanatory note states.In order to prevent these risks, the National Bank of Georgia (NBG) will develop a regulatory framework and define additional requirements in the form of credit ratios.In particular, the NBG must determine the limit of the ratio of the total amount of loans issued to one borrower or a group of interconnected borrowers to the regulatory capital of a microfinance organization that exceeds 100,000 GEL, as well as the limit of the ratio of the total amount of all loans issued by a microfinance organization to the regulatory capital of a microfinance organization that exceeds 100,000 GEL.The law will enter into force on the 30th day after its publication - to give the National Bank time to prepare additional requirements.At the moment, 31 MFOs operate in the Georgian financial market.It should be noted that the Ministry of Economy has long recommended the NBG to increase the limit.

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“As a result of joint efforts, Swiss Edelweiss has started operating in our market. The airline is a representative of one of the largest aviation holdings, which means that the interest of airlines in our country is growing. Our long-term goal is to interest such airlines within the Lufthansa Group, such as Brussels Airlines and SWISS, in the Georgian aviation market. Thus, the global aviation group Lufthansa will be almost fully represented in our market,'' said Levan Moseshvili.The airlines included in the Lufthansa Group are: Lufthansa, Eurowings, Austrian Airlines, Edelweiss, Swiss, Brussels Airline, ITA Airways, 4 of which are already operating in the Georgian aviation market."With the entry of Edelweiss Tbilisi International Airport, LUFTHANSA GROUP will be further strengthened in the Georgian aviation market and its market share will increase significantly. We are pleased that the fourth airline of our global aviation group is already operating in the Georgian aviation market," said Carsten Tsang.It was emphasized at the meeting that Germany is a strategically important direction for the Georgian market.At this stage, the 5 airlines included in the Lufthansa Group operate in the Georgian aviation market with a total of 13 frequencies, and in the summer season the number of flights will increase to 20 per week.

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As of March 2025 in Tbilisi the weighted average price of old flats has increased by 11.6% in the wide centre compared to March 2024, in the suburbs 10.2% growth was witnessed, while in the city centre the weighted average price increased only by 0.5%.In March 2025 the number of transactions in new projects in Tbilisi grew by 4.2%, with increases observed in both the primary and secondary markets. It should be noted that some transactions in new projects within the primary market are recorded later by developers, which could potentially distort the data and fail to present an accurate picture of the primary market. The declining trend in old projects has persisted - the figure for old flats features a 15.5% decrease compared to March 2024.In March 2025, in Tbilisi the number of transactions of residential flats amounted to 3,064 units, reflecting only 1.5% YoY decrease. Market size increased by 16.7% standing at USD 243 millions.In February 2025, in Tbilisi the number of transactions of residential flats amounted to 3,205 units, reflecting 8.9% YoY decrease. Market size decreased by 0.6% standing at USD 234 millions.As of February 2025 in Tbilisi the weighted average price of old flats has increased by 12.6% in the wide centre compared to February 2024, in the suburbs and city centre 6.2% and 5.9% increase was witnessed.In February 2025 the number of transactions in new projects in Tbilisi decreased by 2%. It should be noted that some transactions in new projects within the primary market are recorded later by developers, which could potentially distort the data and fail to present an accurate picture of the primary market. The declining trend in old projects has persisted - the figure for old flats features a 27.2% decrease compared to February 2024.

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