An agreement between Georgian Oil and Gas Corporation, and European Bank for Reconstruction and Development has been signed.

This agreement will see that the European Bank for Reconstruction and Development (EBRD) provide technical co-operation. The agreement was part of the agreement by the development lender to provide a €217 million loan to refinance a Georgian Oil and Gas Corporation (GOGC) corporate Eurobond following the COVID-19 crisis. 

An EBRD statement said 75-80% of Georgia's electricity is supplied by hydropower. 

Director and head of energy in Eurasia at the EBRD's Sustainable Infrastructure Group, Aida Sitdikova, said that it is all very early days and still innovative, as it would be for any country.

Culled from MAX HALL. 

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