On May 14, 2012 was held the meeting of the Georgian Government. The agenda included 41 items.
Before the meeting started, the Prime Minister of Georgia, Nika Gilauri, talked about natural disasters. We present the Prime Minister's speech:
"One of the main issues of today's government meeting will be the loss inflicted by the natural disaster to regions, especially, regions of East Georgia - Kakheti, Mtskheta-Mtianeti. We have precise description, what problems are in which district or region. Today we will make decision on allocating respective sums. I would like to ask Ramaz to give more detailed information on the precise amounts allocated for each of these regions to the public during or after the meeting. We have done our best to completely restore road traffic in the nearest period. There are certain impediments on bridges and local roads and respectively, we will finish the rehabilitation works in the nearest future.
Before we start the government meeting, I would like to thank Georgian football team under 17 years of age. The payers have shown terrific results. I would like to thank absolutely everyone, footballers, as well as trainers of the team and the Football Federation for the work they have fulfilled. This is not easy to participate in European championship, play in semi-finals with 10 players against Holland not letting the opponent to score a goal almost for 78 minutes. Georgian football team has left behind England, Spain, France and Ukraine at this stage. These are the teams which are the future of European football. The only success of our team is that they have not lost the team mentality, on the contrary, it has a mentality and psychology of a winning team, which will be of use to our football in the future.
This tournament has shown that the formula of funding juvenile football has worked. This was worked out 3-4 years ago; this is a different formula which is not used in other countries. We do not fund juvenile football at a club level, but this is funded at the level of national team and we made this decision several years ago. We have teams of players of following ages: 13, 15, 17 and 19. Each of them has a separate source of funding and they participate in tournaments. Actually, such formula has worked and we have got the result.
I would also like to thank Gas Corporation Management and the Ministry of Energy. Last week, a quite important investment forum was held and Gas Corporation made a successful transaction, issued Eurobond of 50 million dollars, Coupon was observed between 6.8% and 6.9%, that is a very good price and despite quite a hard market condition, this was considered as one of the most successful transactions in financial markets today.
This is a 5-year Eurobond of 250 million dollars, allocated by the Global Financial Community, funds, without state guarantee of Gas Corporation. This 5-year Eurobond has been determined by 6.8%, which is a very law interest. Apart from this, I would like to emphasize that the 10-year national sovereign Eurobond of Georgia is no traded in 5.4-5.5% that means that if Georgia needs additional half a billion or one billion dollars, which we do not need, we will attract a 10-year sum in 5.4%-5.5%, which is a very law index. This means once more that international global financial and economic community trusts macroeconomic figures of Georgia and consequently, this is a very simple foundation to attract even more investments and create more jobs in Georgia, which is our ultimate purpose."
Prime Minister's Press Service