Press Releases

The Asian Development Bank (ADB) announced an investment of $40 million in green bonds (*) in Georgia using the "Leading Asia's Private Infrastructure Fund" (LEAP) funded by JICA on July 17. The ADB's investment includes $20 million in direct loan from ADB and $20 million from LEAP. As the first green bonds issued in the South Caucasus region, including Georgia, it’s expected to develop a bond market that will contribute to climate change projects in the region through this investment from ADB and LEAP.

The project will invest in green bonds targeting to upgrade water supply and sanitation in Georgia's capital city of Tbilisi and its nearby municipalities, thereby contributing to ensure that communities in and around Tbilisi are provided with 24-hours water supply and sanitation systems properly. The green bonds are issued by the Georgian Global Utilities (GGU), which is engaged in water and sanitation services as well as renewable energy projects in Georgia.

The LEAP Fund is a part of the follow-up measure for the “Partnership for Quality Infrastructure,” which was announced by the Japanese government on Nov. 21, 2015. Targeting high quality private infrastructure projects in the Asia-Oceania region, the fund provides assistance for such projects organized under various arrangements, such as public-private partnerships. In March 2016, JICA approved a $1.5 billion investment in private sector investment financing for the LEAP Fund. The LEAP Fund provides support for a wide range of sustainable infrastructure projects undertaken by the private sector in ADB member countries of the Asia-Pacific region, and is directed at projects in fields such as reduction of greenhouse gas emissions, energy efficiency, and provision of medical services at reasonable prices.

JICA will continue its collaboration with countries and international organizations to promote quality infrastructure investment and contribute to social and economic development in developing countries and regions based on the Sustainable Development Goals (SDGs).

(*) Green Bond: A bond issued to raise funds for environmental initiatives such as global warming countermeasures and renewable energy.