Execution of investment projects financed by externally borrowed funds

Organizational Code Program 2020 annual plan 3 month actual spending %
32 14 Vocational Education I (KfW) 1,300,000 c - c 0%
24 13 Vardnili and Enguri hydropower plants rehabilitation project (EBRD, EIB, EU) 20,000,000 c - c 0%
24 14 01 Power Transmission Network Enhancement Project (WB) 3,500,000 c - c 0%
25 03 10 Urban Transport Development Program (EBRD) 3,909,000 c - c 0%
25 05 03 Kvemo Kartli Waste Management Project (EBRD, SIDA) 420,000 c - c 0%
25 05 04 Integrated Solid Waste Management Program II (KfW) 400,000 c - c 0%
29 10 Strengthening of Georgian Armed Forces (SG) 5,000,000 c - c 0%
25 02 03 11 Construction of road and tunnel on Mtskheta-Stepantsminda-Larsi road under Kobi-Kobi section (EBRD, ADB) 500,000 c - c 0%
56 13 04 Batumi bus projects (E5P, EBRD) 2,500,000 c - c 0%
24 14 03 01 500 kV OHL "Tskaltubo-Akhaltsikhe-Tortum" (KfW) 1,000,000 c - c 0%
25 03 14 Improving the energy efficiency of public buildings in Georgia and the use of renewable-alternative energy (NEFCO, E5P) 3,350,000 c - c 0%
24 14 03 03 500 kV OHL Jvari-Tskaltubo (WB) 18,000,000 c - c 0%
25 02 02 18 The construction of the bridge over the river Debeda (EBRD) 600,000 c - c 0%
24 14 03 04 Strengthening of Guria Power Transmission Line Infrastructure (KfW) 4,000,000 c - c 0%
25 03 11 Bakuriani Municipal Services Improvement Program (EBRD) 9,400,000 c - c 0%
56 13 06 Tbilisi Solid Waste Management Project (EBRD) 27,000,000 c - c 0%
24 14 03 06 Kheledula-Lajanuri-Oni (KfW) 5,000,000 c - c 0%
56 13 05 Tbilisi Bus Project (Phase II-Gas) (EBRD) 100,000,000 c - c 0%
0 თბილისის მეტროს პროექტი (EBRD) 15,000,000 c - c 0%
0 COVID-19 Healthcare Event Funding (EIB) 29,000,000 c - c 0%
25 02 02 15 Internal Road Asset Management Project (WB) 19,000,000 c 209,464 c 1%
32 13 ინოვაციის, ინკლუზიურობის და ხარისხის პროექტი - საქართველო I2Q (IBRD) 5,000,000 c 76,527 c 2%
25 02 02 16 Batumi (Angisa) - Rehabilitation-Reconstruction of Khulo-Zarzma Section of Akhaltsikhe Highway (Kuwait Fund) 11,250,000 c 224,110 c 2%
26 09/31 06 03 Irrigation and Drainage System Development (WB) 33,500,000 c 751,366 c 2%
25 07 02 Tbilisi Public School Rehabilitation and Energy Efficiency Project (CEB, E5P) 1,186,000 c 62,865 c 5%
25 02 03 06 Reconstruction-construction of Chumateleti-Khevi section of Tbilisi-Senaki-Leselidze road (WB, EIB) 14,000,000 c 1,112,685 c 8%
24 12 Georgian innovative ecosystem's project A (IBRD) 26,342,000 c 2,773,949 c 11%
25 02 02 14 Third project of Internal and Local Roads (WB) 11,200,000 c 1,396,615 c 12%
25 05 02 Kutaisi Integrated Solid Waste Management Project (EU, KfW) 700,000 c 94,286 c 13%
25 02 03 10 Construction of Senaki-Poti-Sarpi road km48-km64 Grigoleti-Choloki section (EIB) 21,500,000 c 3,280,000 c 15%
31 05 12 01 Agricultural Modernization, Market Access and Sustainability Project (IFAD, GEF) 3,400,000 c 536,082 c 16%
24 14 02 Georgian Transmission System Open Program (EBRD, EC, KfW) 6,000,000 c 1,147,339 c 19%
25 02 03 08 Reconstruction-construction of Ubisa-shorapani section of Tbilisi-Senaki-Leselidze road (WB, EIB) 84,750,000 c 16,426,158 c 19%
25 03 05 Urban Reconstruction and Development Project (EIB) 64,247,000 c 12,966,000 c 20%
25 02 03 02 East-West Express Highway Corridor Improvement Project (Zemo Osiauri-Rikoti) (EIB, WB) 59,300,000 c 12,254,034 c 21%
25 03 03 Regional Development Project III (Mtskheta-Mtianeti and Samtskhe-Javakheti) (WB) 10,460,000 c 2,551,490 c 24%
25 02 03 05 Modernization and Construction of 0-50 km segment of Samtredia-Grigoleti Motorway (EIB, EU) 37,000,000 c 10,777,856 c 29%
25 02 03 07 Reconstruction-construction of Khevi-Ubisa section of Tbilisi-Senaki-Leselidze road (WB, EIB) 64,750,000 c 19,949,754 c 31%
25 02 02 17 Rehabilitation and reconstruction of Chumateli-Kharagauli section of Durila-Kharagauli-Moliti-Pona-Chumateti internal road (ADB) 10,800,000 c 3,711,109 c 34%
25 04 03 Urban Service Improvement Program (Water Supply & Wastewater Sector) (ADB) 105,000,000 c 37,683,783 c 36%
25 03 04 Regional Development Project II (Imereti) (WB) 6,615,000 c 2,503,235 c 38%
25 04 01 Kobuleti new bypass road (ADB) 800,000 c 304,502 c 38%
25 02 03 03 Kobuleti new bypass road (ADB) 41,500,000 c 16,513,638 c 40%
25 03 17 Regional Development Project II (Imereti) (WB) 961,500 c 385,491 c 40%
56 13 03 Adjara solid waste projects (EBRD) 2,000,000 c 807,735 c 40%
31 05 12 Breastfeeding Modernization and Market Access Program (DiMMA) (IFAD) 3,600,000 c 1,518,779 c 42%
56 13 02 Rehabilitation of Communal Infrastructure Institutions in Batumi - Phase IV (KfW) 14,000,000 c 5,963,802 c 43%
25 03 02 Investment Program for Development of Sustainable Urban Transport (ADB) 22,800,000 c 10,683,737 c 47%
56 13 01 Rehabilitation of Communal Infrastructure Institutions in Batumi - Phase III (KfW, EU) 1,500,000 c 725,489 c 48%
25 02 03 01 East-West Highway (EWH) IV Section for Transit (Agara-Zemo Osiauri) (WB) 400,000 c 233,082 c 58%
25 02 03 09 Reconstruction-construction of Ubisa-Shorapani section of Tbilisi-Senaki-Leselidze road (EIB) 99,000,000 c 74,400,144 c 75%
25 02 03 12 Construction and Reconstruction of Zestaponi-Kutaisi-Samtredia Segment of East West Highway (EWH) (JICA) 130,000 c 3,586,624 c 2759%
25 02 03 19 Kobuleti New Bypass Road (ADB) - c 1,489,467 c #DIV/0!
25 04 08 Water Infrastructure Renewal Project II (EIB, EU) - c 164,804 c #DIV/0!

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Monetary Structure is an indicator of foreign exchange risk sensitivity for public debt.

Georgian public debt is denominated in six different currencies, among them the biggest share comes to SDR and USD.

Source: Ministry of Finance of Georgia

Last update: 29.07.2020

Multilateral creditors – international financial institutions, such as International Monetary Fund, World Bank, Asian Development Bank, etc.

Bilateral creditors – governments of other countries that sign loan contract with the government of debtor country.

State Securities – Eurobonds, which are issued on foreign stock exchange and are denominated in a currency other than the home currency of the country (in Georgia’s case, they are denominated in US Dollars).

Other Debt – includes state guaranteed credits and external debt of National Bank of Georgia.

Source: Ministry of Finance of Georgia

Last update: 29.07.2020

Fixed interest rate – interest rate that is defined in the loan agreement and does not change during loan tenor.

Variable interest rate – interest rate, calculation method of which is defined in loan agreement and the amount depends on market interest rate. For instance, EURIBOR and LIBOR are variable market interest rates.  

Source: Ministry of Finance of Georgia

Last update: 29.07.2020

Funds received from external credit resources finance budget deficit and/or particular investment projects.

Budget support loans finance current budget expenditures and are not used to finance any specific project.

Investment loans finance only investment projects determined by the loan agreement.  

Source: Ministry of Finance of Georgia

Last update: 29.07.2020

The chart represents execution state of investment projects financed from external credit resources. Timely disbursement and spending of external credit resources are crucial for those loans which have commitment fee on undisbursed portion of loans.

Source: Ministry of Finance of Georgia

Last update: 29.07.2020