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State Debts towards Raiffeisen Bank

Published: October 1, 2013 | 1:34 pm
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Inaccurate business calculations made 15 years ago, and debts towards the Austrian Raiffeisen Bank which the Georgian State has to repay – TV3 can exclusively reveal that the present government is studying the debts that were accrued years ago. The Finance Minister Nodar Khaduri has stated that talks with the new leadership of the Austrian bank are underway. According to him, Georgia accrued tens of millions of Lari’s worth of debts towards Raiffeisen following certain financial conflicts between Levan Pirveli’s company Anglo Oil and Sakenergo.
A response from the Raiffeisen Bank will also be exclusively printed in the Commercial Times newspaper. The company Anglo Oil was supplying Sakenergo with natural gas and black oil for electricity supplies in 1998-1999. The project was being financed by the Raiffeisen Bank. Following the break-up of Sakenergo, the debts to Anglo Oil were not repaid. Under the previous government, Raiffeisen was offered the late Badri Patarkatsishvili’s Standart Bank as an alternative to debt repayment.

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