According to Natia Turnava, President of the National Bank of Georgia, gaining access to the China Interbank Bond Market (CIBM) will significantly enhance the efficiency of international reserves management and support their diversification.

“The Chinese interbank bond market is one of the main channels for foreign institutional investors, including central banks, to access the Chinese securities market directly. It is important for us that international reserves are diversified not only by currency, but also by asset type and geographic region. In the near future, we will begin investing, which will further improve reserves diversification. Development of new markets will continue gradually, based on market conditions and risk assessment,” Turnava said.

She also noted that the National Bank plans to share its experience with the private and financial sectors to facilitate their participation in the Chinese securities market.

The National Bank of Georgia gained access to the CIBM as part of the cooperation established under a memorandum signed last year with the People’s Bank of China, joining a select group of central banks authorized to operate in this key global financial market.