The aim of the project is to improve the situation in the power transmission sector and strengthen the operational, institutional and financial independence of the Georgian State Electric System. 

"The Asian Development Bank has been helping us with various reforms in the energy sector for three years now. Negotiations on the proposed tranche began in 2020. Its main goal was to ensure the proper functioning of the state electricity system, which in itself implies its corporatization. Importantly, the electrical system came out of a 13-year rehabilitation regime. The Board of Independent Governors of the Electrosystem has been selected, which has approved the documents required for corporate governance, and after that, a loan agreement has been signed with the Asian Development Bank,” - Giorgi Kakauridze, First Deputy Minister of Finance, stated.  

According to him, the agreement submitted by the bank for Georgia envisages the disbursement of a loan in the amount of approximately 87.5 million Euros within15 years, including 3 years with a discount, while the interest rate depends on Euribor; it is interest-free at the current rate. The mentioned loan goes directly to the state budget.