The Georgian Economy Minister Levan Davitashvili met with the Governor of the People’s Bank of China (PBOC), Pan Gongsheng, to discuss financial cooperation.

“The National Bank of Georgia (NBG) is now striving to modernize Georgia’s payment infrastructure, including developing the Instant Payment System (IPS) to make it faster and more efficient. This will encourage trade and economic relations,” - the Minister said. 

The NBG and the PBOC agreed to sign a memorandum of understanding to formalize their relationship and provide a framework for future cooperation.

“The goal of our strategy is to support the development of financial technology (fintech) in the middle corridor by capitalizing on the positive trends of the real economy,” - Davitashvili declared.