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100 M Euros for new hospitals


On May 11, Memorandum of Understanding on cooperation between Georgian and Czech parties will be signed within the framework of hospital sector development program. Ministers of Economic Development and Healthcare of Georgia, representatives of JSC “Block”, “Czech Export Bank” and “Block-Georgia” Ltd will sign the document.

The Memorandum of Understanding envisages encouragement and support of hospital sector development program in Georgia, common efforts and coordination, development of relations between the two countries, establishment of hospitals in Georgia meeting the European standards and attraction of considerable investments to the healthcare sector.

“Georgia has become extremely attractive for the East Europe. In comparison with the last year volume of investments only from Czech republic has increased by 10 times and its significant that solid Czech companies express willingness to much more increase volume of investments in almost all sectors  of our economy”-George Arveladze said.

The Georgian – Czech company expresses willingness to participate again in the privatization process of the hospital sector in Georgia and establish hospitals meeting the modern standards. The Czech party will establish the company “Investor” to which the property privatized recently or in future by “Block Georgia” ltd will be transferred within the framework of the hospital sector development program envisaging the conditions under the agreement

The Ministry of Economic Development of Georgia pursuant to the Georgian legislation will approve the transfer of the property by “Block Georgia” Ltd with the same conditions as “Block-Georgia” Ltd has purchased or will from the state through privatization.

“Czech Export Bank” provides financial assistance to “Block Georgia” Ltd.

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