PM Meets with EIB Official, Discusses Importance of Support from Int'l Partners

Today, February 2, Georgian Prime Minister Giorgi Gakharia held a meeting with Maciej Czura, the European Investment Bank's (EIB) Regional Representative for the South Caucasus.

During the meeting at the Administration of the Government, the PM emphasized the importance of international financial assistance in effectively handling the COVID-19-related economic crisis, and thanked the EIB for actively cooperating with Georgia's public and private sectors alike.

The Head of Government singled out the fact of Georgia's ambitious preparation for officially applying for full EU membership in 2024, with support from international development partners being key in this process.

The parties noted that the EIB is one of Georgia's largest partners and sponsors per capita. Since entering the country, the bank has invested 1.48 billion Euro in the governmental sector, and a total of 2 billion Euro in both state and private sectors, including in far-reaching road, energy, water, and other projects.

The conversation revolved around the revamping of Georgia's road infrastructure and network with EIB support, encompassing the construction of the new 14.1-kilometer highway connecting Zemo Osiauri and Chumateleti and its connectors.

The meeting also highlighted the EIB's cooperation with local banks to support innovative businesses through the InnovFin agreement and the EU4Business initiative. The parties commended the EIB's program seeking to secure access to financing for micro-entrepreneurs, women, youth, and rural residents, in order to promote the development of their financial engagement and long-term economic growth.