National Bank of Georgia signs cooperation memorandum with China’s Central Bank

The National Bank of Georgia (NBG) and the People’s Bank of China (PBOC) have signed a memorandum of cooperation aimed at strengthening financial ties between the two countries.

The agreement was signed by NBG President Natia Turnava and PBOC Governor Pan Gongsheng during a visit by the Georgian delegation to China.

According to the National Bank of Georgia, the memorandum focuses on addressing global financial challenges, reducing systemic risks, boosting trade and business relations, and enhancing financial stability through closer collaboration.

“Our goal is to enhance the efficiency of banking sector cooperation between the two countries. We plan to make Georgia’s financial market more attractive to Chinese banks and financial institutions. It is encouraging that China has expressed strong interest in deepening cooperation with us,” Turnava stated.

The agreement includes cooperation in monetary policy, financial technology, payment systems, and capital market development. Both central banks will exchange expertise and undertake joint projects to promote the growth of banking services between the two countries.

Additionally, the memorandum outlines collaboration on developing and modernizing payment infrastructure, with a particular focus on improving interconnectivity between payment systems to facilitate fast, efficient, and secure international transactions.