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EBRD President: Georgia is Improving Investment Climate

Minster of Finance Mamuka Bakhtadze has met with EBRD President Suma Chakrabarti as part of his visit to Great Britain.

The parties positively appraised EBRD’s performance in Georgia and discussed the ongoing and planned projects. The parties made emphasis on such priorities as: development of municipal infrastructure, the banking sector, agriculture sector, power sector.

The parties noted that EBRD is making serious contribution to capital market development in Georgia, deposits insurance system and introduction of public-private cooperation framework mechanisms.

“This financial institute is a key partner for Georgia. Last year they made major investments in the history of our relations and we are happy in 2018 the bank plans to enlarge investment portfolio. It should be noted that more than 90% of the portfolio will be directed to funding the private sector”, Finance Minister Mamuka Bakhtadze said.

“We appreciate this cooperation with Georgia. I am happy to have met with Georgia’s new Finance Minister. The last year registered record EBRD investments in Georgia – 270 million EUR in 20 projects in various sectors. We believe the current year will bring special results in terms of important projects. And the main thing is that Georgia is implementing reforms in right direction. The country is trying to improve investment climate, establish standards that enable the country to move ahead for EU integration”, the EBRD president said.