EBRD’s Vice President:
“Georgia: Leader of Europe’s second wave reforms”
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Georgia is leading the second wave of countries in eastern and central Europe, with its progressive reforms, believes the Vice President of the European Bank for Reconstruction and Development (EBRD), Alain Pilloux.
While delivering his speech at today’s Tbilisi Silk Road Forum, Pilloux stated that Georgia was progressing in the right direction. He praised Georgia’s involvement in international projects as well as a four-point reform agenda combining the four strategic directions of economic reforms, open governance, infrastructure investment, and reforms in education.
Taking into account Georgia’s progress in foreign and domestic activities, Pilloux confirmed that Georgia was leading the second wave of countries in the eastern and central Europe.
Also, Pilloux said the EBRD is supporting the Silk Road project and shares the visions and goals of the project initiators.
The Vice President of the EBRD announced that together with the Asian Development Bank (ADB) and other financial institutions, EBRD is participating in the development of the South Caucasus Gas Corridor with a $500 million financial contribution. The pipeline will link Azerbaijan, Turkey and Western Europe through Georgia.
The second Silk Road Forum continues in Tbilisi, giving opportunity to the participants to establish cooperation and sign various deals.
"We have decided to double our investments in Georgia”, announced the Minister of Tolerance of the United Arab Emirates, Sheikh Al Nahyan, today.
Georgia’s capital Tbilisi is hosting the second Silk Road Forum, which is being attended by around 2,000 honourable guests from all over the world. Today and tomorrow, November 28-29, government representatives and business leaders from more than 60 countries and more than 500 foreign companies are participating in two-day forum.
The European Bank for Reconstruction and Development (EBRD) has revised its 2017 economic growth forecast for Georgia and said that the country’s economy in 2017 as well as in 2018 will experience a faster growth than previously expected.
Georgia and China signed a Memorandum of Understanding on developing economic zones and entrepreneurial capacity between the countries.
The second Silk Road Forum, titled ‘Tbilisi Belt and Road Forum’ continues in Georgia’s capital with a panel discussion titled ‘Use Investment Opportunities’. The first session under this panel, Georgia’s Investment and Trade Opportunities, is being moderated by well-known media consultant Jan Burel.
Georgia’s Economy Minister Dimitry Kumsishvili encourages investors, attending the Tbilisi Silk Road Forum, to invest in Georgia.
Cooperation between Georgia and European Investment Bank (EIB), and Georgia’s ongoing and forthcoming projects were among the issues Prime Minister Giorgi Kvirikashvili and EIB Vice-President Vazil Hudak discussed today.
The European Bank for Reconstruction and Development (EBRD) is offering €28 million to help Georgia rehabilitate Enguri Hydro Power Plant (HPP).
“Investors are really interested in Georgia”
The European Bank for Reconstruction and Development (EBRD) Director for the Caucasus, Moldova and Belarus, Bruno Balvanera, believes that investors are "really interested” in Georgia.
The EBRD and the EU are extending their support to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine to the total of almost €1.1 billion in credit lines and trade finance and €58.3 million in EU grants.