The acting President of National Bank, Natia Turnava, and the Extraordinary and Plenipotentiary Ambassador of the Federal Republic of Germany to Georgia, Peter Fischer, discussed the future prospects of cooperation at the meeting held today at the NBG.

According to the information of the National Bank, the conversation also touched on the issue of the implementation of the financial sanctions imposed by the USA, Great Britain and the European Union as a result of Russia's invasion of Ukraine and the change in the procedure for the implementation of the sanctions. Natia Turnava stated that the NBG developed and implemented the mentioned amendment in order to fully realize the rights and freedoms of Georgian citizens guaranteed by the Constitution of Georgia. The acting President emphasized that the National Bank is in constant communication with commercial banks and continues to enforce international sanctions.

"At the meeting with the German Ambassador and his colleagues, we discussed joint projects. We have been cooperating with the German Central Bank, commercial banks, and various German financial institutions for a long time. We noted that we are very grateful for the support and cooperation we receive from the German government and the German financial sector. Also, we talked about the changes made by the National Bank of Georgia in the rules of enforcement of sanctions and different procedures for the citizens of Georgia. We clearly stated that Georgia, our financial system, the National Bank, we remain faithful to our international obligations. As for a separate legal issue, enforceability, etc., we follow international practice and are ready to provide detailed information on this to all interested parties," said Natia Turnava.

"I had a good meeting with the first vice-president of the National Bank. The topic of our meeting and discussion was Georgia's path to the European Union. We discussed institutional and economic reforms, which are very important. The long-term and fruitful cooperation between the NBG and the German central bank-Bundesbank was also noted. Now, when Georgia is taking steps towards candidate status and EU membership, we want to further deepen and expand our cooperation in the future. We also talked about the recent events, and I appreciate the detailed explanation of the first vice president, which she gave me," said Peter Fischer, Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany to Georgia.

According to NBG, the National Bank of Georgia closely cooperates with various German financial institutions. The long-standing, successful partnership between Georgia and Germany was noted at the meeting. As the NBG noted, the experts of the Bundesbank of Germany provided great assistance to the National Bank and only with their great support was it possible to build and operate a cash center of modern standards in 2012.

*The quotes of the German Ambassador were double-translated from Georgian and wordings may be inaccurate.