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EIB Will Activate Financing of Private Sector in Georgia

EIB Will Activate Financing of Private Sector in Georgia

Georgian Prime Minister Giorgi Kvirikashvili and Vazil Hudak, Vice President of European Investment Bank (EIB) talked about the ongoing projects funded by EIB in Georgia and the four-point plan of government reforms at the meeting held in Batumi.

According to the Government Administration, the focus has been made on macroeconomic indicators of the country, positive foreign investments, positive trends in tourism and economic growth. In his speech, the Prime Minister emphasized the favorable investment environment in Georgia, which is noted by the indicative of country’s leading positions in the international ratings.

In addition, the Prime Minister positively evaluated the plan of the European Investment Bank, besides sovereign, to encourage private sector financing and expressed hope that micro, small and medium entrepreneurs will be able to use this opportunity, which is a priority for the government in terms of access to finances.

The volume of investment projects financed by the European Investment Bank in public sector amount to 1,33 billion EUR, while EIB has allocated financial resources of  188 million EUR to finance non-sovereign projects in the private sector.