EBRD to Invest 400 Million Euros in Georgia This Year
The European Bank for Reconstruction and Development (EBRD) is currently celebrating its 25-year anniversary and has highlighted its ‘historic investment’ in Georgia. In just a few decades of cooperation, the Bank has carried out 190 projects in Georgia and has invested more than EUR 2.6 billion.
“We consider Georgia as the best country in terms of reforms, as well as introduction of international standards and accepting the EBRD mandate. Georgia has the best investment environment and a great future and, to reflect this, the investment that the Bank implemented here is one of the largest in our portfolio of projects,” said Bruno Balvanera, Regional Director of EBRD in Caucasus, Moldova and Belarus.
Georgia’s Minister of Finance, Nodar Khaduri, noted the importance of the assistance of the EBRD in Georgia and the projects that have already been and are going to be carried out. “The EBRD is the largest and most reputable of investors in our country,” the Minister said. “More than 2.6 billion Euros was invested in the public and private sector, with a focus on the banking sector, energy and infrastructure.”
The Minister also highlighted the future projects and stated that in the near future the EBRD will finance an initiative to introduce 60 new buses in Tbilisi which will run on compressed natural gas.
“We plan to invest more than EUR 400 million Euros in Georgia - an unprecedented amount of money,” said Balvanera. “This money could go to various sectors of the economy, like hydropower, banking, municipal infrastructure, and the private sector. Overall, we are positive about the prospects of Georgia's development and look forward to further successful cooperation.”
The Regional Director of the EBRD also stated that this year is a jubilee not only for the Bank but for the country as well as this year Georgia will celebrate the 25th anniversary of its independence. “This is a significant date for Georgia, too, and we are very pleased that it has been a member of our big family for such a long time. As a result, we have been able to carry out a large number of projects, attract investments and develop the economy,” Balvanera said.
Eka Karsaulidze