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EBRD President: I am Hoping That we Can Get Nearly 300 million Euro into Georgia this Year

Increasing investments in Georgia, incentives for the private sector, and prospects of developing business environment were the key issues discussed at meeting between EBRD President Suma Chakrabarti and Georgian Prime Minister Giorgi Kvirikashvili. The meeting was held during the World Economic Forum in Davos.

The parties discussed the role of EBRD in the development of Georgia’s economy and the ongoing EBRD investments in Georgia. It was emphasized that, in 2016, EBRD invested a record-breaking amount in Georgia, about 250 million euro.

The Georgian Government’s reform agenda, and spatial planning as one of its components, was one of the main topics of the meeting. According to Suma Chakrabarti, EBRD supports Georgia’s ongoing reforms and plans to increase its investments and financial assistance.

“The first thing the Prime Minister and I agreed was that the cooperation between EBRD and Georgia is in a very strong health. The plans for 2017 are even stronger. I am hoping that we can get nearly 300 million euro into Georgia this year, so this is a very good relationship, and it is not just about investments. It is also about trying to change policies, difficult things, which will make Georgia even more attractive for investors. The Investors Council, chaired by the Prime Minister, is doing very well. The work on PPPs is going well. The work to develop the Competition Agency is going well, and the energy efficiency action plan, so in all these areas the relationship between Georgia and EBRD is in extremely good health,” Suma Chakrabarti said commented the meeting.