Ekaterine Mikabadze and Ekaterine Galdava, Vice Governors of the National Bank of Georgia, attended the landmark event marking Basisbank’s issuance of sustainability bonds.

Basisbank has successfully issued USD 20 million in sustainability bonds aimed at financing green and social projects. This marks the first sustainability bond issuance in the local market and the first public bond issue by a commercial bank in recent years. The Asian Development Bank (ADB), the bank's strategic investor, contributed USD 15 million to the bond issue, with the remaining bonds acquired by other investors.

“This issuance of Basisbank’s USD 20 million sustainable public bonds aimed at financing green and social projects involved the first simplified prospectus approved by the National Bank of Georgia. This streamlined approach, developed in alignment with EU regulations specifically for banks, enhances the efficiency of securities issuance and enables commercial banks to optimize their time and resources."

In her speech, Ekaterine Mikabadze highlighted the significance of this development for Georgia's capital market. She noted that Basisbank's bond issuance not only advances the market but also supports the financing of green and social projects within the framework of sustainable finance and diversification of financial resources.

She also noted that the securities market in Georgia is continuously evolving and expanding, with significant growth in green, social, and sustainability-linked bonds.

“A robust corporate bond market provides an essential alternative to traditional financing, enabling companies to raise capital more efficiently and at potentially lower costs. The securities market in Georgia is continuously evolving and expanding, with significant growth in green, social, and sustainability-linked bonds. Namely, in 2023, six companies issued either green, social or sustainability-linked bonds raising up to 550 mln GEL in capital. We are optimistic that this positive trend of growth of the ESG bond market will persist in the current and upcoming years. The role of funds raised through securities issuances is becoming increasingly crucial in the financing structure of companies, and we expect that ESG bonds will play a central role in this structure in the future,” remarked Ekaterine Mikabadze.

Mikabadze also underscored the crucial role of ADB and international cooperation in advancing local capital markets and the ESG bond market. Over the past two years, ADB has invested in green, gender, and sustainability bonds issued by various Georgian companies, further driving the growth of this market sector.