EBRD thanks Georgia for hosting Bank’s annual meeting

Georgia is being praised for successfully hosting an event which saw about 2,000 people including top governmental officials from more than 60 countries, global decision-makers, corporate executives and financing experts gather in Tbilisi last month.

Today the country’s Finance Minister Nodar Khaduri as well as Georgian Prime Minister Irakli Garibashvili received a ‘thank you’ letter from the president of the European Bank for Reconstruction and Development (EBRD) Sir Suma Chakrabarti for successfully organising and hosting the EBRD 24th Annual Meeting and Business Forum in Georgia.

The EBRD annual meeting gave the best opportunity to the event participants to get additional information about region’s economic climate and especially about Georgia’s investment potential. The participants recognised the event as a "great success”. This is a result of the team’s strong and creative work. Your employers overcame all the challenges which appeared while preparing for the event and then during the event,” wrote Chakrabarti.

"We could not be more proud of what we have achieved. This will further strengthen the relations between EBRD and Georgia’s Finance Ministry,” stated Chakrabarti in the letter.

In return Khaduri also thanked EBRD for supporting Georgia and for investing in the country.

The President of EBRD sent a "thank you" letter to Georgia's Finance Minister.

Meanwhile, Georgia’s Prime Minister Irakli Garibashvili has also received a letter of thanks from EBRD President for his effort to arrange the EBRD Annual Meeting in Tbilisi.

In the letter, the EBRD President thanked Garibashvili and his team and said "positive changes are observed in Georgia. Wide-ranging reforms are being implemented in Georgia that provides significant opportunities to attract more investors".

Georgia spent 18 months preparing for the EBRD meeting, which was held in capital Tbilisi on May 13 and 14. It was the largest scale event Georgia has ever held and the first time the EBRD event was held in the Caucasus region.

The Government spent more than 17 million GEL on preparatory works to host the EBRD Annual Meeting, of which movable and immovable property worth 14 million GEL remained in the state.

In the letter the EBRD President underlined that Georgia was "one of the most innovative of the more than 30 countries of operations where EBRD supports transition to free and open markets”.

"And that’s allowed the EBRD to introduce new investment instruments in Georgia before bringing them to other countries in our regions,” Chakrabarti said.

Meanwhile EBRD Regional Director Bruno Balvanera said Georgia was a great host of the event.

"The results of the EBRD Annual Meeting are very important for Georgia. First of all, 2,000 people came to Georgia from around the world, representing governments and business communities. The second result is that statistical data proves more tourists visited Georgia in May this year compared to last year. There were more economic activities, which is good for hotels, suppliers, contractors, food facilities,” Balvanera said.

"During the Annual Meeting the EBRD doubled the volume of its investments in Georgia. At the event we signed six agreements and two memorandums, of which one was for Nenskra Hydro Power Plant and the other for a new wind power park. Georgia will see the results of these projects very soon and we are very happy for that,” Balvanera added.