The increase in debt was influenced by new loan agreements signed by the government over the past year, which are related to the construction of large infrastructure projects.
As bm.ge reports, such agreements include a $360 million loan signed by the Ministry of Finance with the Asian Development Bank (ADB) for the construction of the Batumi-Sarp highway and tunnel. The ADB ranks first among international financial institutions in terms of the total portfolio of loans for Georgia, so the majority of the country’s external debt falls on these loans – $2.6 bln. The World Bank is in second place with $2.3 bln. France (AFD) is the leader among creditor countries, to which Georgia owes $890 mln.
As of January 2026, Georgia’s external debt is distributed among creditors as follows:
|
Creditor |
Debt balance |
| Asian Development Bank (ADB) |
$2.61 bln |
| World Bank Group |
$2.32 bln |
| European Investment Bank (EIB) |
$1.23 bln |
| France (AFD) |
$890 mln |
| Eurobonds |
$602 mln |
| Germany (KFW) |
$590 mln |
| NBB debt to IMF |
$306 mln |
| Asian Infrastructure Investment Bank (AIIB) |
$248 mln |
| European Bank for Reconstruction and Development (EBRD) |
$235 mln |
| European Union (EU) |
$159 mln |
| Public debt to IMF |
$154 mln |
| Japan |
$113 mln |
| International Fund for Agricultural Development (IFAD) |
$38 mln |
| Council of Europe Development Bank (CDB) |
$17 mln |
| Austria |
$10 million |
| Kuwait |
$7 mln |
| Norwegian Environmental Finance Corporation (NEFCO) |
$5 million |
| United States of America |
$4 million |
