Publisher The Georgian Times Media Holding, Member of the World Association of Newspapers Distributed free N011 NEWSPAPER IN GEORGIA No 9 (1552) Monday, May 18, 2015 Weekly Newspaper, International Edition - Published by “The Georgian TIMES” Media Holding Since 1993 www.geotimes.ge www.tbcbank.ge www.psp.ge www.elwagon.ge www.aversi.ge www.socar.ge www.ginoparadise.ge www.wissol.ge www.geotimes.ge EBRD Annual Meeting 2015 – Why Tbilisi? Being chosen to host the European Bank of Reconstruction and Development (EBRD) meeting in Tbilisi on 12-15 May could be considered a great achievement for Georgia as it implies recognition from the international financial community that this is a stable and economically developed country. On p. 2 Three New Turkey Welcomes American Instructors Deputies of Defense – A Missed Opportunity for Georgia? Minister Named The Syrian conflict has devel- On p. 4 oped in such a way that the Great Powers cannot avoid being EaP, Some EU involved until it is concluded. Therefore it is not surprising FMs Meet in that Turkish media sources have Bratislava recently said that around 40 U.S. Ahead of Riga Special Forces members are now based at the Hirfanli Summit gendarmerie base in the Central On p. 7 Anatolian province of Kirsehir, where they will to help their Georgia, Turkish colleagues train Syrian EBRD in Initial rebel groups to fight the Islamic State of Iraq and Levant (ISIL) Deal on Gori within the next ten days. Wind Farm On p. 7 On p. 4 Georgian President Russia-China Strategic Meets NATO Secretary Partnership – From the General On p. 9 Pacific to the Black Sea The New Cold War has brought about a new geopolitical power distribution Georgian, U.S. in whicha Russia-China strategic alliance is a logical counterweight to Troops thecombined EU-NATO-USA pole. Growing strategic partnership in energy security and geoeconomic areas has created a deepening cooperation in the Launch Joint military sphere. Two Chinese missile frigates, The Linyi and the Weifang, Drills Outside accompanied by a support ship, entered the port of Novorossiysk on May 8 Tbilisi to take part in Victory Day celebrations, the first time in history this had occurred. On p. 6 POLITICS Monday, May 18, 2015 www.geotimes.ge 2 EBRD Annual Meeting 2015 – Why Tbilisi? By DR. VAKHTANG MAISAIA which outlines the cooperation strong commercial prospects, priorities for 2013-2016. It is involve significant equity con- this which set the three priori- tributions in-cash or in-kind ty areas outlined above, the from the project sponsor, ben- overall aim being to develop efit the local economy and help Georgia as a regional hub. The develop the private sector and EBRD is currently seeking to satisfy banking and environ- make a huge investment, $150 mental standards. million, in the energy sector, The EBRD finances Being chosen to host the main areas: regulatory frameworks; cial offer to host the meeting in intending to build hydro-elec- projects in most sectors. These European Bank of Recon- - Fostering private invest- - Supporting Georgia’s May 2013, and that Septem- tric and wind operated power include: struction and Development ment: The EBRD will contin- regional and global econom- ber the EBRD technical mis- stations. · Agribusiness (EBRD) meeting in Tbilisi ue to pursue operations with ic integration. The EBRD sion positively assessed Tbili- Founded in 1991, The · Energy efficiency on 12-15 May could be private sector clients directly will focus on projects in vari- si’s capacity to host the event. EBRD uses the tools of invest- · Financial institutions considered a great achieve- and, indirectly, via private ous areas including infrastruc- EBRD Annual Meetings are ment to help build market econ- · Manufacturing ment for Georgia as it banks operating in Georgia. As ture, logistics, telecommunica- held in either its London Head- omies and democracies in 30 · Municipal and environ- implies recognition from the business environment in tions and the financial sector, quarters or in member coun- countries from central Europe ment infrastructure · Natural resources the international financial Georgia is generally very good, that would support cross-bor- tries. While they are attended to central Asia. Its initial mis- · Power and energy community that this is a policy dialogue activities in this der economic activities. The by government delegations, sion was to support formerly · Property and tourism stable and economically area will focus on the unfinished EBRD will support opportu- Business Forums run in paral- communist countries in the · Telecommunications developed country. Though reform agenda in the area of nities for skills transfer to en- lel with them are attended by process of establishing their · Information technology the Georgian economy is governance, rule of law and able Georgian companies to representatives of the interna- private sectors. By the seventh and media currently going through competition policies, in line take advantage of trade oppor- tional business community. meeting, representatives of 40 · Transport hard times, with the Lari with the authorities’ priorities; tunities and to become more Between 1,200 and 1,500 nations and two European in- Hosting the EBRD Annual enduring super-inflation - Completing the modern- competitive in a wider regional guests usually attend both stitutions had reached agree- Meeting will not save the Geor- and GDP growth having ization of the energy and international context. events. ment on the bank’s charter, its gian economy, and inflation con- fallen from 4.2% to 2.3%, sector. The EBRD will com- The decision to hold the EBRD is an important part- initial size, and the distribution tinues to rise: at the end of June the EBRD considered the plete the energy sector projects 2015 Annual Meeting in Tbili- ner of Georgia both in terms of of power among shareholders. the exchange rate will be $1=2.5 Tbilisi meeting very started during the past strate- si was taken by the Board of funding and cooperation with The EBRD provides loan GEL. The long term effect it fruitful. gy, which aim to increase ener- Governors of the EBRD. The Europe. It has financed over and equity finance, guarantees, will have on Georgia’s econom- gy production and access ex- announcement came after a 165 projects in Georgia worth leasing facilities and trade fi- ic conditions may be another Georgia joined the EBRD in port markets. Future projects meeting between the Prime around1.8 billion Euros. 81 per- nance and finances profession- matter. 1992, and since then the bank will foster private sector par- Minister of Georgia, Irakli cent of its funding is allocated al development through sup- has been actively involved in ticipation and will be support- Gharibashvili, and EBRD Pres- for private sector projects. On port programmes. To be eligi- The Georgian Institute for the country’s economic and fi- ed by policy dialogue in the ar- ident Sir Suma Chakrabarti at September 4, 2013 the EBRD ble for EBRD funding, a project Geostrategic and Euro- nancial development. At eas of domestic markets reform the World Economic Forum in Board of Directors approved must be located in an EBRD Atlantic Studies Institute, present it is focusing on three and introduction of modern Davos. Georgia made the offi- the new Strategy for Georgia country of operations, have Chairman Publisher/Editor in Chief Executive Editor: Copy Editor Director: The Georgian TIMES Nana Gagua Mariam Toidze Rumwold Leigh Kakha Maskharashvili # 1 English-Language Newspaper in Georgia Tel.: (+995) 555 293 003 Tel: (+995) 577 727 207 Tel: (+995) 599 501 452 Tel: (+995) 551 501 313 E-mail: E-mail: E-mail: E-mail: First published in 1993. [email protected] [email protected] [email protected] [email protected] The Founder and the President Malkhaz Gulashvili. Tel: (+995) 577 461 046 The Georgian Times Media Holding. 12, Kikodze str, Tbilisi, Georgia. Tel: (+995 32) 2934405, Contributions to The Georgian TIMES are welcome. If you are interested in submitting an article or E-mail: [email protected]; http://www.geotimes.ge news item, ect. please contact; Tel/fax: (+995 32) 2934405 PUBLICITY Monday, May 18, 2015 www.geotimes.ge 3 LIVE modern, Welcome to Batumi Miracle! 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WWW.GIMGAPARTMENTS.COM 51 “Business” category apartments: the area is from 65 m2 to 170 m2. Address: S.Zhgenti str. # 1 Batumi, Georgia Sales Office: (+995 ) 577 50 77 05 ; (+995 ) 422 22 60 70 [email protected] GEOPOLITICS Monday, May 18, 2015 www.geotimes.ge 4 Turkey Welcomes American Instructors – A Missed Opportunity for Georgia? By DR. VAKHTANG MAISAIA The Syrian conflict has developed in such a way those associated with Adjand al-Kavkaz, which is led by the that the Great Powers famous Chechen warlord Amir cannot avoid being involved Abdul Khakim al-Shishani until it is concluded. (Rustam Ashiev), which is now Therefore it is not an important ally of the Free surprising that Turkish Syrian Army.