News from Georgia courtesy of Sarke

Today:

- politics

* NATIONAL MOVEMENT HAS PRESENTED OWN PROGRAM

Series of political parties’ economic programs presentations have been finished today by presentation of ruling National Movement. MP Vakhtang Balavadze declared that “National Movement has more jobs to do”.

- economics

* NBG PROFIT GREW BY 27.65% IN 2009

National Bank of Georgia (NBG) reported profit of 87.67 million lari for the year 2009. The figure is increased by 27.65% if compared to 2008 (68.73 million lari).

* NBG ISSUED 60M LARI IN 2009 THROUGH CURRENCY SWAPS

According to National Bank of Georgia (NBG), credits of 60 million lari were issued through currency swap auctions in 2009. Term of this currency swaps is 1 year.

* EBRD HAS FUNDED 7 PROJECTS SINCE THE BEGINNING OF 2010

Irakli Mekvabishvili, senior banker of EBRD, reported to Sarke that the bank has funded 7 projects with total cost of 190 million EUR since the beginning of 2010. The matter concerns projects on energy, infrastructure and finances.

* GEORGIAN RECEIVERS OF REMITTANCES PLACED DEPOSITS OF $5M IN TERMS OF EBRD PROGRAM

According to EBRD, remittances receivers in Georgia placed in total $5 million on banking deposits in terms of program on financial education. EBRD implemented this program in Georgia and Azerbaijan in cooperation with Inter-American Dialogue and Microfinance Centre.

* FARMING MACHINES COST 210,000 LARI WERE PASSED TO VILLAGES IN CONFLICT ZONE OF SHIDA KARTLI

Yesterday, CARE International in the Caucasus handed over farming machines with total cost of 210,000 lari to farmers of villages Ergneti and Plavi in conflict zone of Shida Kartli region (nearby to territory of self-proclaimed South-Ossetian Republic). Machines were handed over within frameworks of the project “Enhancing Rural Livelihoods in the Adjacent Area”.

* BLITZ-SURVEY: BUDGET OF LOCAL SELF-GOVERNMENT

Elections of local self-governments would be held in Georgia on May 30. Political parties have already introduced their programs to public, so Sarke decided to question experts about problems of local self-governments’ budget.

- business

* ONLY 1 COMPANY INTERESTED IN SERVICING BUYOUT OF REAL ESTATE IN TERMS OF TBILISI BYPASS RAILWAY CONSTRUCTION

LLC Georgian Railway reported to Sarke that only 1 company applied for tender on servicing buyout of real estate in terms of Tbilisi bypass railway construction. Currently, tender commission considers the application, so the decision is expected for near future, LLC said.

* REGULATING COMMISSION GAVE ADDITIONAL TIME TO LLC SILKNET FOR SUBMITTING THE NECESSARY DATA

Georgian National Communication Commission reported that LLC SilkNet was given additional time (until July 1) for submission necessary data on own activity. The matter concerns number of customers, income and expenses of the company, etc.

* LLC SILKNET REDUCED COST OF WIRELESS PHONE INSTALLATION

LLC SilkNet announced that cost of wireless phone (CDMA) installation would amount to 60 lari countrywide since June 1. Out of this sum, 15 lari would be deposited on subscriber’s balance.

* LLC NARCISSUS LAUNCHED ICE CREAM PRODUCTION

Mamuka Shamugia, director of LLC Narcissus (pastry and diary producer), declared to Sarke that production of ice cream was launched 2 weeks ago. The matter concerns so-called “family packs” of ice cream, making up 150 g and 500 g in weight.

* LLC GANTIADI DOES NOT PLAN TO PRODUCE NEW NAMES OF ICE CREAM

LLC Gantiadi told Sarke that it is not going to expand list of ice-cream production in this season. “Not so good financial condition” was named as a reason.

For further information: Sarke