Tbilisi (GBC) – Vice President of the National Bank of Georgia (NBG) is deeply pleased with the progress of the Pension Agency and NBG’s contribution to gaining high confidence in the system.

Natia Turnava said at the presentation of Pension Agency's 5-year investment activity report, that the success of the pension system in Georgia and other countries is based on trust.

According to her, apart from that, the resources of the agency have a significant load in the development of the capital market.

As of March 31, 2024, assets made up 4.8 billion GEL (5.8% of GDP).

The NBG is working with the economic team of the government to expand the instruments.

The NBG's mandate should also be expanded, and the Pension Agency will be fully under its supervision. According to Turnava, will increase the agency’s confidence.

In the future, earnings from pension agency should be directed to the infrastructure projects through financial and capital market instruments, including by investing pension funds in corporate bonds.

At the end of the event, Olivier Rousseau, Chairman of the Investment Council of the Pension Agency, announced that the process will be accelerated with more involvement of the NBG. According to him, more capital market instruments are needed. Deposits are good, but not enough.

He also noted on the positive side of increasing the agency's 10% quota in the emission to 20% and hoped for further increase.