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Vazil Hudák: Priority Issue is to Attract Foreign Direct Investments to Georgia

Minister of Economy and Sustainable Development George Kobulia held a meeting with the Vice-President of the European Investment Bank, Vazil Hudák and the accompanying delegation. Deputy Ministers of Economy and Sustainable Development Natia Turnava and Ekaterine Mikabadze also attended the meeting.

Investment portfolio of the European Investment Bank in Georgia and the main priorities of the future cooperation were the topic of the conversation.

The Minister of Economy and Sustainable Development George Kobulia, after conclusion of the meeting, stated that two new priority directions, including the cooperation in promoting of the energy efficiency and attracting the direct foreign investment to the country. According to George Kobulia, the EIB will provide financial and technical assistance to Georgian companies in order to implement technological re-equipment of the enterprises to make the production process energy efficient.

“Another priority issue is attraction of the direct foreign investment. The Bank will support the process of bringing large European companies into Georgian market, which will help to advance the export potential of our country and to develop more SMEs,” – the Minister of Economy and Sustainable Development stated.

“The EIB has provided during the last ten years almost 200 million Euro support. We are working through local banks to distribute the small loans guaranties for the enterprises in Georgia. We will continue doing this. We will focus primarily on the enterprises, the local companies, which are involved, for example, in energy efficiency, agriculture and technology…We told the Minister that the European Investment Bank will try to help to find the investors and also, provide the support for such investment,” – the Vice-President of the European Investment Bank, Vazil Hudák noted. The Vice-President of the EBI also highlighted the energy projects supported by the Bank.