Georgian State Electrosystem Corporatization and Electricity Market Reforms Program (ADB-49006-003)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 16, 2019

Disclosed by Bank Jul 31, 2018


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Project Description

According to Bank documents, the aim of this project is to strengthen the corporate governance and financial management of Georgia's electricity transmission company, Georgia State Electrosystem (GSE), and improve electricity market competition by supporting an independent market operator. 

Reforms under this program include establishing an independent energy sector regulator, privatizing power generation and distribution assets, and introducing long-term concessions and guaranteed power purchase agreements for private investments in hydropower projects. 

Investment Description
  • Asian Development Bank (ADB)
Private Actors
Contact Information

Ministry of Finance
16 Gorgasali St., 0114
Tbilisi
Georgia

ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main