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EBRD to Finance Tbilisi Bus Fleet Renovation Program

Georgian Finance Minister Nodar Khaduri has met with Francis Mallige, the managing director of the European Bank for Reconstruction and Development (EBRD) and Bruno Balvanera, director for the Caucasus, Moldova and Belarus representations.

At the meeting the parties discussed the ongoing projects in Georgia and future cooperation perspectives.

Georgia is reliable partner for EBRD in terms of financial cooperation, enhancement of relations with Europe and drawing European investments.

EBRD Finances important projects in Georgia’s power sector and municipal infrastructure. The bank actively cooperates with the private sector and contributes to the financial markets development. It should be noted that the Bank cooperates at the board of investors that is an additional platform for the business sector promotion.

In the near future EBRD will finance such projects as renovation of Tbilisi bus fleet and solid wastes management.

EBRD representatives expressed intention to continue successful cooperation with Georgia and implement important projects in the infrastructure, power sector, agriculture and tourism fields to develop the country and provide economic growth.

EBRD also shows readiness to support Georgia in fulfilling the obligations as part of the EU agreement on deep and comprehensive free trade space.

It should be noted in 2014 EBRD has doubled investments in Georgia and the amount exceeded 200 million EUR, while the BANK’s total investments in the Georgia economy for the past 23 years of cooperation marked 2.6 billion EUR.