Khutsishvili: World Bank has invested over $5 billion in Georgia

It is noteworthy that in January-March of this year, goods worth 5.757 million USD were exported from Azerbaijan to Armenia, which is 0.11% of Azerbaijan’s total exports

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“According to the amendments to the law, after May 1, it will be possible to cultivate a vineyard for commercial purposes only with the prior consent of the National Wine Agency. Otherwise, a person who cultivates a vineyard arbitrarily will not be able to commercially sell the grapes or wine produced.The aforementioned regulation applies only to those who plan to cultivate a vineyard for entrepreneurial activity and does not apply to those who cultivate a vineyard for personal consumption.Consent to cultivate a vineyard is issued free of charge by the National Wine Agency.The amendments are part of a reform aimed at improving the quality of wine and are aimed at regulating the process of cultivating vineyards. All parameters of the vineyard must meet the established standards, which will contribute to obtaining a quality harvest and producing high-quality wine.It is noteworthy that by May 1 of this year, a relevant normative act will be developed that determines the requirements for obtaining consent to cultivate a vineyard "Documentation and procedures," the National Wine Agency said in a statement.

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According to the statistics of the National Bank of Georgia, the maximum share of remittances in March - 45.4% ( $145.6 million; +10.7%Y.Y) falls on the European Union countries.The most growing flows are from Spain (+25.2%Y.Y) and France (+18.1%Y.Y).

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According to the Enterprise Georgia agency, this development marks a significant milestone for both expanding Starbucks’ global network and strengthening Alshaya Group’s operations in the Eurasian region. The project is expected to contribute to job creation and support the country’s economic and social development.“The first Starbucks store in Georgia will open in Tbilisi in the summer of 2026, located on Ilia Chavchavadze Avenue at Axis Towers. In the following months, expansion to other cities across Georgia is also planned.The entry of the Starbucks brand into Georgia was supported by the Enterprise Georgia agency under the Ministry of Economy and Sustainable Development, the Ministry of Foreign Affairs, the Embassy of Georgia in Kuwait, and the Embassy of Turkey in Georgia,” the Enterprise Georgia stated.Saleh Alshaya, President of Starbucks at Alshaya Group, said the brand’s arrival in Georgia comes with high expectations.“We are proud to introduce Starbucks to Georgian coffee lovers. This entry reflects the country’s developed café culture and young, dynamic consumer environment. Our goal is to bring Starbucks’ high quality and exceptional hospitality to as many people as possible, while supporting local suppliers and creating new employment opportunities,” he said.Duncan Moir, President of Starbucks for Europe, the Middle East, and Africa, mentioned that the company operates in over 90 countries and is expanding further through its partnership with Alshaya Group.“We can now offer our unique coffee experience to new customers in Georgia. This step allows us to contribute to the growing coffee culture in the region, build new connections, and invest in the communities we serve,” he said.According to Mikheil Khidureli, Director of the Enterprise Georgia, the process took several years of negotiations and coordination, including multiple visits by company representatives to Georgia, detailed market research, and location assessments.“This was a long and intensive process. Today we have a concrete result—the entry of one of the world’s most recognized brands into our country, which will create new jobs and strengthen Georgia’s investment attractiveness,” he said.Deputy Minister of Economy and Sustainable Development of Georgia, Irakli Nadareishvili, welcomed the investment, stating that Starbucks’ entry sends a positive signal to other global investors.Deputy Minister of Foreign Affairs, Aleksandre Khvtisiashvili, added that the Ministry continues to work through diplomatic missions to attract international brands to Georgia.Alshaya Group currently operates over 800 Starbucks stores across Eurasia, including Turkey, Kazakhstan, Azerbaijan, and the Middle East, and manages a portfolio of approximately 2,000 stores across 13 markets.Founded in 1971, Starbucks is one of the world’s leading speciality coffee companies, with more than 40,000 stores globally.

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This transaction marks a significant milestone in the development of Georgia’s banking sector and creates new opportunities in the market. The combined strength of two successful financial institutions with complementary capabilities, will significantly enhance competition and enable the delivery of a broader range of financial products and services to customers.“This transaction marks a defining moment in the history of two successful banks. The acquisition of Liberty Bank creates a unique opportunity to leverage the synergy of human expertise and technological capabilities to build a strong universal financial platform, equally focused on the development of both business and retail segments.Through this transaction, we are strengthening competition in the market while delivering greater value to our customers. With increased capacity, we will expand access to financing and unlock new opportunities for businesses, playing a significant role in driving Georgia’s economic growth” said David Tsaava, General Director of JSC Basisbank.Beka Gogichaishvili, General Director of JSC Liberty Bank, commented: “It has been a privilege to lead the Liberty team during a period of significant transformation and growth. I would like to express my sincere gratitude to our employees for their professionalism, dedication, and commitment, which have been fundamental to the bank’s success. I am confident that this transaction will open a new chapter for the bank, creating additional opportunities for our customers, our team, and the broader financial sector, while contributing to the development of Georgia’s economy.”To ensure strong governance and seamless transition, David Tsaava will assume the role of General Director of both Basisbank and Liberty Bank.At this stage, both institutions continue to operate independently, ensuring full continuity of services, products, and customer experience.About BasisbankBasisbank is one of the largest financial institutions in Georgia, offering banking, leasing, and insurance services to corporate clients, small and medium-sized enterprises, and retail customers. The bank creates a comprehensive ecosystem focused on customer success and long-term trust.According to 2025 financial results, the bank’s total assets amount to GEL 4.9 billion, with a gross loan portfolio of GEL 3.3 billion, a deposit portfolio of GEL 3.5 billion and net profit of GEL 122.4 million.About Liberty BankLiberty Bank is one of the largest financial institutions in Georgia, with over 1.7 million retail clients and more than 60,000 SME customers.The bank operates the most extensive network in the country, with approximately 500 service centers and up to 700 ATMs, covering all regions and municipalities. The number of employees exceeds 5,600.The bank’s total assets amount to GEL 5.8 billion, with a gross loan portfolio of GEL 4.2 billion, a deposit portfolio of GEL 4.17 billion and net profit of GEL 128 million for 2025.

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According to the draft law, the Georgian Red Cross Society will no longer be required to be in agreement with the government when issuing grants. Financial and credit institutions are also included in the list of exceptions.Key details: Red Cross: For greater clarity, the law will explicitly state that the law’s requirements will not apply to funds issued by member organizations of the International Red Cross and Red Crescent Movement. Financial institutions: The exception will apply to organizations such as the World Bank. According to the chairman of the committee, Archil Gorduladze, such grants are mainly equivalent to loan agreements, are already agreed with the government through other procedures and do not serve political goals. Existing exceptions: The list already includes the following programs: Horizon Europe, Erasmus+, Creative Europe and the German Academic Exchange Service (DAAD). According to the amendments, funds issued by diplomatic missions and international organizations that may be used for activities in the public interest of a foreign government or political party will no longer be considered grants.

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“Last year, we launched the pilot programme for micro and small business support, which generated considerable interest and achieved significant results. The City Economic Development Service has been monitoring the activities of entrepreneurs supported through the programme, and this oversight has shown that the programme’s effectiveness and results are undeniably positive. Based on these findings, we have decided to develop the pilot into a full-scale project, expand its scope, and increase the available funding. Last year, the financing limit per entrepreneur stood at 20,000 lari. This year, co-financing will rise to 50,000 lari,” the Mayor stated.He noted that last year, just under 50 micro and small entrepreneurs were selected and supported under the programme.“Those entrepreneurs were able to procure the equipment and machinery they required. In the selection and assessment of beneficiaries, preference will be given to candidates who have an active enterprise and can present a credible, constructive plan and vision for the development of their business. The co-financing proportions are structured as follows: up to 5,000 lari — 90% covered; from 5,000 to 20,000 lari — 85%; from 20,000 to 30,000 lari — 80%; and from 30,000 to 50,000 lari — 70% covered by the municipality,” Kaladze said.He added that the programme would proceed, recognising its vital role in promoting business growth and generating new employment opportunities.“The support provided under this programme helps existing businesses to grow further, raises their competitiveness, and, through our combined efforts, strengthens local production. I am confident that a great many people will benefit from it. Applications will be opened in the near future, and we will keep the public informed of the relevant dates,” the Mayor said.

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According to the minister, the issue is strengthening the country's connectivity, which includes the road, rail, maritime and air infrastructure of the Middle Corridor. The energy sector is also an area of ​​interest for the bank.A special AIIB mission will visit Georgia in the near future, within the framework of which the parties will discuss specific projects that the bank will finance in Georgia.

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