Georgian Prime Minister Irakli Garibashvili and European Bank for Reconstruction and Development (EBRD) President Sir Suma Chakrabarti signed a Memorandum of Understanding to establish an Investors Council, a ground-breaking initiative to promote investment in Georgia. The Investors Council will facilitate dialogue at the highest level in order to advance economic development, attract additional investors to Georgia, and further improve the country’s business climate Prime Minister Garibashvili said, “This significant new partnership between Georgia and the EBRD bolsters the Government’s efforts to create a job-creating economy that benefits all Georgian citizens. By facilitating greater interaction between the private and public sectors, the Investors Council will strengthen the foundations for the expansion of business activities that will drive economic growth for years to come.”
The Investor Council will bring together representatives of the government, state agencies, business associations, the business ombudsman and international investors.
The EBRD is financing the activity of the Investor Council’s Secretariat from its dedicated technical cooperation funds and support from the Government of Georgia. Other international development partners have also been invited to join.
“We are grateful to the EBRD for its continued support for Georgia’s economic development. This initiative demonstrates that we are moving forward with the right approach to create jobs and make Georgia an even more attractive market for investment,” said. Prime Minister Garibashvili.
The EBRD is the largest institutional investor in Georgia with over €2.3 billion investments in more than 175 projects. In addition to being a leading investor in many sectors of the Georgian economy the EBRD is also providing advisory services and committed to contribute to attract additional investment to Georgia.