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EBRD Plans to Invest 350 mln in Georgia This Year

EBRD Plans to Invest 350 mln in Georgia This Year

The European Bank for Reconstruction and Development (EBRD) plans to invest 300-350 million EUR in Georgia this year.

The Regional Director of the EBRD says that previous year’s record (250 million) is improved in 2017 in terms of investment portfolio.

“At this stage I do not know the final answer, but it might be 300-350 million. We have signed an agreement on 100 million USD with TBC Bank. We already have similar agreements with “Bank of Georgia” and other agreements”, – said Bruno Balvanera.

The banker says that their strategy combines several priorities, including the development of private sector.

“We are working out several types of individual projects in the tourism sector, agriculture, food industry and clinics. All these projects are very important. Our second most important priority is the energy sector and we are working hard on preparing large and medium hydropower projects, as well as some renewable energy projects,” – said Bruno Balvanera.