Kazakhstan Shows Readiness to Increase Investing Volume in Georgia

The Georgian Government plans to draw supplementary investments from Kazakhstan. The Kazakh Government and business sector representatives express willingness to enlarge the volume of Kazakh investments in Georgia.

A Georgian delegation discussed cooperation enhancement issues in Astana on April 8-9.

The negotiating parties stressed the importance of cooperation in the bank sector. The Georgian delegation members showed readiness to provide overall support to Kazakh bank subsidiaries in Georgia - Halyk Bank Georgia and BTA Bank Georgia.

During the visit the parties signed a cooperation memorandum, which calls for ensuring stable operation of banks and microfinance organizations in Kazakhstan and Georgia. The memorandum was signed by Giorgi Kadagidze, president of the National Bank of Georgia (NBG), and Elena Bakhmutova, Head of the Kazakh Agency for Supervision and Regulation of Finance Market and Financial Organizations.

Giorgi Ramishvili, BTA Bank Georgia stakeholder, says Kazakh BTA Bank is ready to take joint efforts with Georgian partners for the bank development.

Nika Geguchadze, Halyk Bank Georgia director general, says Halyk Bank has made enough amount of investments in its Georgian subsidiary. The Kazakh parent bank is ready to further enlarge the investing volume.