EBRD invests in Georgia Global Utilities green Eurobond

• EBRD supports green Eurobond issuance by Georgian private water firm
• Georgia Global Utilities raises US$ 300 million to finance green projects
• EBRD to invest US$ 40 million to fund water-network infrastructure in Tbilisi

The European Bank for Reconstruction and Development (EBRD) has successfully participated in the second green Eurobond issuance by Georgia Global Utilities (GGU), with an investment of US$ 40 million of the total US$ 300 million offering. GGU will invest the proceeds to improve the water-network infrastructure in Georgia's capital city, Tbilisi.

The issuance was also supported by German development finance institution DEG, the International Finance Corporation and the Asian Development Bank.

The green Eurobond is listed on the Euronext Dublin and aligns with the International Capital Market Association's Green Bond Principles. The issuance will contribute to GGU's development and long-term financial viability, supporting its environmental aspirations. It will help the company to diversity its funding sources. GGU remains the only private infrastructure firm in the region to issue a green bond.

The project is the first green bond under EBRD Green Cities, a programme that has already supported eight projects in Tbilisi through the flagship Green City Action Plan. The project will target investments in the water sector and address key environmental challenges, such as water losses.

The EBRD is a leading institutional investor in Georgia. To date, the Bank has invested more than €5 billion in 299 projects in the financial, corporate, infrastructure and energy sectors, with 82 per cent of those investments in the private sector.