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Hungary to open $68mln credit line to promote business and investments in Georgia

By Gvantsa Gabekhadze
Thursday, March 31
At the initiative of Hungary, the Eximbank will open a USD 68 million credit line to facilitate the implementation of joint projects by Georgian and Hungarian companies.

The news came after the meeting of Georgia’s Foreign Minister Mikheil Janelidze with his Hungarian counterpart Peter Szijjarto, as they focused on the main issues of bilateral co-operation between their countries.

The Georgian Foreign Minister thanked his Hungarian counterpart for his personal support of Georgia.

Janelidze underlined the historically friendly relations between the Georgian and Hungarian people, strengthened by the close relations between the Governments of the two countries.

Szijjarto reaffirmed Hungary’s unequivocal support for Georgia’s European and Euro-Atlantic integration. The Hungarian Minister also underlined Georgia’s significant progress in implementation of the action plan on visa liberalisation with the EU and reaffirmed Hungary’s support for the adoption of visa-free travel between the European Union and Georgia in the near future.

Talking points also included the successful bilateral co-operation in different directions. Particular emphasis was put on the increasing potential of trade-economic co-operation.

Janelidze welcomed Hungary’s decision to open a USD 68 million credit line at the Eximbank for the promotion of business and investments in Georgia.

The Ministers expressed their readiness to sign an agreement between Hungary and Georgia on the protection of investments in the near future.

Janelidze informed his Hungarian colleague on the four-point reform plan initiated by Georgian Prime Minister Giorgi Kvirikashvili aimed at further development of the country and promotion of business, and underlined the readiness of the Government of Georgia to facilitate the development of trade relations with Hungary.

It was also underlined that one of the main directions of bilateral relations is the education sphere. In this context, Janelidze thanked Szijjarto and welcomed the fact that Hungary is providing scholarships to Georgian university students.

At the meeting, the current situation in Georgia’s occupied territories was also discussed. Janelidze thanked Hungary for supporting Georgia’s sovereignty and territorial integrity and for its active participation in the EU monitoring mission in Georgia’s occupied territories.

Discussions also focused on the NATO Summit in Warsaw this year and on the progress Georgia has achieved on its path towards integration with the Alliance. The Hungarian Foreign Minister expressed readiness to continue supporting Georgia in the process of implementing the Substantial NATO-Georgia Package.

Szijjarto noted that Georgia represents a strategic partner for Europe in the diversification of its energy sources and underlined the important role of Georgia as a transit country connecting Europe and Asia.

In this context, Janelidze underlined the importance of the Tbilisi Silk Road Forum initiated by the Government of Georgia that creates a platform for the development of regional transit projects, as well as economic and energy expansion possibilities.