ADB Invests In Georgia's First Sustainability-Linked Lari Bonds To Support Tegeta's Sustainable Transport
Georgia, Dec. 18 -- The Asian Development Bank (ADB) invested 41 million Georgian lari (GEL) (about $15.2 million) as an anchor investor in Tegeta Holding's (Tegeta) sustainability-linked bonds (SLBs)-the first SLBs issued in GEL. This investment marks a significant step for sustainable transport and green mobility in the South Caucasus region.ADB's support helped mobilize Tegeta's bond issuance, raising GEL 260 million (approximately $95.7 million) on the Tbilisi Stock Exchange. Sustainability-linked bonds tie financial terms to the achievement of specific environmental or social goals. For Tegeta, these targets include modernizing and expanding its low-emission vehicle fleet and enhancing its environmental, social, and governance standard...
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