Economy
Posted: 4 weeks ago

EBRD Regional Director Sees Investment Prospects in Energy Field

The European Bank for Reconstruction and Development (EBRD) has presented a strategy for 2021-2026, which focuses on competitiveness, inclusiveness, regional and green development.

The EBRD has invested € 4.53 billion in 269 projects in the financial, corporate and energy sectors since its inception. 78% of investments come to the private sector.

''The Board of Directors has just approved a strategy for the next 5 years for Georgia. It was quite a long process. We had a fairly deep dialogue with both the state and the private sector and other circles to be sure of what the country needed during this period. We looked at three areas, one being competitiveness and economic sustainability, the other being inclusive and integrated economics, and the third prioritizing green and well-managed economies,''said Catarina Bjorlin Hansen at Business Partner. 

As part of the first priority, EBRD will support small and medium-sized businesses, as well as large businesses. Support is primarily expressed in access to finance, but at the same time EBRD wants to make sure that this finance is available outside of big cities as well. They will also partner with any type of energy and infrastructure investments that will support the private sector operating in the country.

''We do not have specific budgets. We follow the needs of the private sector as well as what the government may need.

Traditionally, we invest up to 250-350 million euros in the country. Last year was special, given the crisis. In 2020, our funding was over 600 million euros. Fortunately, this year we have already returned to normal levels within 200 million. Of course, I hope that the volumes will increase, but not because of the crisis, but because of the strong investments. In this regard, for example, renewable energy is a good investment direction for both the parties involved and the government,''said Catarina Bjorlin Hansen. 

According to her, in terms of attracting investment, it is important to launch tenders that are made in the field of renewable energy.