The Asian Development Bank (ADB) has invested $40 million in green bond issuance by Georgia Global Utilities JSC (GGU), marking the largest green bond ever issued by a private corporate entity in Georgia. This certified green bond aims to improve the water system in Tbilisi and surrounding municipalities, enhancing resilience against climate change impacts on surface and groundwater resources.
The investment consists of $20 million from ADB’s ordinary capital resources and $20 million from Leading Asia’s Private Sector Infrastructure Fund 2, administered by ADB on behalf of the Japan International Cooperation Agency (JICA). This financing is part of a larger $300 million, 5-year bond issuance by GGU. The funds will be used to modernise the water supply network in and around Tbilisi, providing a reliable potable water supply for approximately 1.4 million residents. The German development finance institution DEG, the European Bank for Reconstruction and Development, and the International Finance Corporation are also involved in the bond issuance.
“ADB’s anchor investment in GGU’s green bond will boost international confidence in Georgia’s capital market and enhance the country’s climate resilience,” said ADB Director General for Private Sector Operations Suzanne Gaboury.
