European Investment Bank to double its investment in Georgia

The European Investment Bank (EIB) is promising stronger support for Georgia by doubling the amount it invests in the country in the coming years.

As of today the amount of our investments [in Georgia] is over €700 million and we plan to increase this financial support in the coming two-three years,” said EIB Vice President Laszlo Baranyay after meeting Georgia’s Prime Minister Giorgi Kvirikashvili today in capital Tbilisi.

The infrastructural projects funded by the EIB in Georgia and prospects of future cooperation were key topics of the conversation between the two officials.

Our activities cover different economic and infrastructural areas including support of small and medium-sized enterprises (SMEs) and cooperation with several Georgian banks,” said Baranyay.

Georgia’s education and social infrastructure sectors were discussed as the next areas where the EIB was keen to increase its investments.

Georgia is the most reliable country in the region in terms of the economy and politics,” Baranyay told Georgia’s high official.

Today Georgia's Prime Minister (C) hosted high officials from the European Investment Bank. Photo by the PM's press office. 

At the meeting Kvirikashvili proudly talked about the Georgian Government’s four-point reform agenda, designed to ensure sustainable development and inclusive growth of Georgia. The already implemented, ongoing and future reforms outlined in the four-point reform agenda covered the tax system and capital markets, as well as the education, health and pension systems.

While talking about infrastructure development – one small part of the four-point reform agenda – Kvirikashvili accented the EIB’s support in implementing infrastructural projects in Georgia.

To this, Baranyay promised the Bank would actively support Georgia as it carried out these vital reforms.