The National Bank of Georgia recently organized a conference focused on covered bonds. The event aimed to support the development of Georgia’s covered bond market and assess the progress made by the NBG in this area.

Representatives from the European Bank for Reconstruction and Development (EBRD) and credit rating agency Moody’s participated, alongside Georgian commercial banks and other stakeholders.
In her speech, Ekaterine Mikabadze, Vice Governor of the National Bank of Georgia, highlighted the significance of expanding the covered bond market for Georgia’s financial landscape. 

“NBG is driving the development of covered bonds as an alternative financing source for Georgia’s financial sector. We are committed to ensuring that this market becomes accessible as soon as possible,” said Mikabadze.

The event featured presentations by representatives from the NBG’s Securities Market Supervision Department, EBRD, and Moody’s. These presentations explored the current state of Georgia’s banking sector and the prospects for covered bond market growth.

Rada Tomova, head of regional policy at the EBRD's Capital and Financial Markets Development Department, noted that Georgia's legislative framework for covered bonds is fully aligned with the EU's directives. Moody’s representatives added that Georgia’s covered bonds are poised to achieve an investment-grade rating.