On October 18, in collaboration with the National Bank of Georgia and the Administration of the Georgian President, the ISET Policy Institute hosted a presentation about the effectiveness of the “School-Bank” project, which continued with a round table discussion about financial literacy in Georgia.

During the event, the Governor of the National Bank of Georgia (NBG), Mr. Koba Gvenetadze, discussed the importance of financial literacy among the country’s youth, the effectiveness of the financial literacy School-Bank pilot project, and the experience of public schools and commercial banks in this process.

Gigla Mikautadze, the project manager of ReforMeter, was invited to a business forum dubbed “Bond Market in Georgia” organized by TBC Capital on June 15, 2018. One of the major highlights of the forum was a research paper entitled “Bond Market in Georgia”, which concerned the trends and challenges that TBC Capital presented to the forum attendees.

According to the paper, the corporate bond market followed in the footsteps of the government bond market, but at a slower pace. Bank of Georgia issued the first corporate bond in 2005 (USD 2 m in par value), but the public corporate market did not grow noticeably until 2014. In that year, the NBG started accepting GEL-denominated corporate bonds as collateral from commercial banks, fueling both bond issuance and commercial activity. As a result, public corporate bonds outstanding more than quadrupled from GEL 56 m in 2014 to GEL 232 m in 2017. Nevertheless, the ratio publicly issued corporate bonds to GDP is still low at just 0.6% in 2017.

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