In connection with the planned reform, Prime Minister Irakli Kobakhidze and Minister of Infrastructure Revaz Sokhadze met with representatives of construction companies and commercial banks. The working meeting was also attended by the heads of the Procurement Agency, the Government Administration and the Samkharauli Expertise Bureau.By decision of the government, amendments will be made to the Technical Regulations approved by Resolution No. 55 and the Law of Georgia “On State Procurement”. As part of the reform, the limit on overheads and unforeseen expenses will be increased, market prices for construction materials and machinery will be updated, and a rule for partial adjustment (indexation) of prices will be introduced.“The reform aims to strengthen the construction sector, increase the financial sustainability of state projects, and establish higher standards of responsibility and transparency in the state procurement system,” the government’s official statement says.In order to support small and medium-sized businesses, the new rules will make it possible to combine the experience of a bidder and its subcontractor in state tenders, which will make it easier for companies to participate in large projects.At the same time, the state is tightening control mechanisms: participation in tenders with unrealistically low prices (dumping) is being restricted, and the so-called “black list” mechanism is being expanded. As a result, companies of individuals involved in financial or corruption crimes will be disqualified from state tenders.The government assesses the aforementioned legislative package as one of the most important systemic reforms of recent times, which should ensure timely and high-quality implementation of infrastructure projects.

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The personnel change comes after SOCAR completed the process of acquiring a 99.82% stake in Italiana Petroli from API Holding. According to the Italian oil company, Davitashvili will directly manage IP’s operations in Italy.His main priorities will be to ensure business continuity, strengthen the company’s position in the local energy market, and oversee the large-scale integration of Italiana Petroli into the SOCAR Group.Levan Davitashvili held the position of Minister of Economy and Sustainable Development of Georgia from 2022 to 2025, and since 2025 he has continued his activities as an advisor to the President of SOCAR.

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The transaction was made under the 2011 Agreement (CARTA) between the Bank of Georgia and Citi and is the 15th successful transaction between the parties. The raised capital will enable the bank to offer enhanced trade finance products to the corporate, small and medium-sized enterprise (MSME) segment.“Such deals allow us to support businesses even more effectively and offer them modern solutions in the field of trade finance. This agreement once again reflects the great trust that international partners have in us,” said Archil Gachechiladze, General Director of the Bank of Georgia.Emre Umut, Head of Sales for Citi Financial Institutions in the Middle East and Africa, noted that this agreement once again confirms Citi’s commitment to supporting the growth and strengthening of important emerging markets.In turn, Steven Beck, Head of the ADB Trade and Supply Chain Finance Program, emphasized the importance of cooperation between global and local institutions, which contributes to strengthening supply chains and sustainable economic growth.

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Guy brings almost 30 years of corporate finance experience in the financial institutions sector. He has held senior roles at, amongst others, UBS Investment Bank, Deloitte Corporate Finance and Keefe, Bruyette & Woods, advising banks and other financial services companies across EMEA on a wide range of strategic and capital markets transactions. He has longstanding familiarity with TBC Bank, including acting as Joint Global Coordinator on the TBC Bank's initial public offering 2014.The Company announces that the current Group Chief Financial Officer, Giorgi Megrelishvili, will step down from his role and leave TBC Group with effect from 1 August 2026. In his capacity as Chief Financial Officer of JSC TBC Bank, the Company will announce his successor in due course. "We are very pleased to welcome Guy as our new Group CFO at an important point in the Group's development. His deep experience across financial institutions and capital markets, combined with his understanding of our business, will be instrumental as we continue to execute on our strategy and pursue further growth opportunities.I would also like to thank Giorgi for his contribution to the Group and wish him every success in the future”, - Vakhtang Butskhrikidze, Chief Executive Officer of TBC PLC, said.Arne Berggren, Chairman of the TBC Bank Group PLC Board, also thanks Megrelishvili:"We are delighted to welcome the new Group CFO to TBC. His experience, perspective and familiarity with the Group will further strengthen the leadership team and support the Board in delivering its priorities.On behalf of the Board, I would also like to thank Giorgi for his service and commitment to the Group”, - Arne Berggren said.

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Including 58% in lending to large businesses and over 68% to SMEs (L/m - 58.2%; 68%).The share of foreign currency-denominated loans in retail does not exceed 21%, although the dollarization ratio increased by 0.1 percentage points in the last reporting month. Total bank lending is 72.7 billion GEL (+2.4%m.m; +15%Y.Y).As the NBG has announced, the next restriction on foreign currency lending (the limit is increasing to GEL 1 million from July 1) should reduce annual issuance by $200 million. The previous increase (the limit was raised to GEL 750,000 from 09/2025) was $150 million, while the previous ones (when the limit was first increased to GEL 400,000 and then to GEL 500,000) were calculated on a decrease of $180,000,000 and $100 million, respectively.The NBG explains that the easing of the reserve requirement on funds attracted in foreign currency (from 25% to 20%), which will free up $250 million of capital for the banking sector, will not affect loans. Potentially, it will be transferred to deposits, but given the high deposit margins, it does not pose a risk of slowing the pace of larization.Moreover, the decision to increase the reserve requirement to 25% was temporary in nature to contain pre-election dollarization and its validity period was already excessively extended.

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According to Deputy Minister of Environmental Protection and Agriculture Zurab Ezugbaia, the law introduces a new term - “labeling of alcoholic beverages”. This refers to the placement of a QR code issued by the National Wine Agency on the label, container or packaging of the beverage.The changes cover several areas: Production quotas: The definition of a “small-sized cellar” is changing - the upper limit of annual production is reduced from 40,000 liters to 25,000 liters. Quality control: Organoleptic (taste) testing of all categories of wine becomes mandatory, whether it is intended for the local market or for export (this requirement will not apply only to natural wines produced in small wineries). Labeling obligation: The National Wine Agency will carry out the labeling of all certified alcoholic beverages intended for sale. Specific deadlines for the implementation of the reform have already been set. The Minister of Environmental Protection and Agriculture must approve the rules and form of labeling by November 1, 2026, and the Government of Georgia must determine the fee for this service by February 1, 2027.According to the authors of the initiative, this step will help protect Georgian alcoholic beverages from counterfeiting and strengthen trust in local products in both domestic and international markets.

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