EBRD President says Georgia is developing in the right direction
EBRD President Suma Chakrabarti meets Georgian Prime Minister Mamuka Bakhtadze in Tbilisi. Photo: gov.ge
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European Bank for Reconstruction and Development (EBRD) President Sir Suma Chakrabarti said Georgia is developing in the right direction at today’s meeting with Georgian Prime Minister Mamuka Bakhtadze in Tbilisi.
Chakrabarti said Georgia "remains an exemplary country" and many of the bank’s partners "are interested in learning from its experience".
At the meeting the parties welcomed the record number of investments brought into the country last year and noted that EBRD plans to further increase its investments in Georgia.
PM Bakhtadze and EBRD President Chakrabarti also spoke of the importance of supporting inclusive economic growth in small and medium businesses.
PM Bakhtadze said EBRD’s portfolio directly responds to Georgia’s current challenges, especially in terms of supporting small and medium businesses.
Bakhtadze and Chakrabarti paid particular attention to EBRD-supported projects in energy, and stressed importance of the energy sphere for the country’s sustainable development and further energy independence.
Sir Suma Chakrabarti meeting with Salome Zurabishvili. Photo: president.gov.ge
Today Chakrabarti also met with Georgian President Salome Zurabishvili. Zurabishvili and Chakrabarti spoke of the 27-year cooperation and partnership between Georgia and the EBRD and discussed importance of the EBRD’s support in economic and infrastructural projects.
- EBRD is one of the key financiers of investment projects in Georgia and its contribution to the Georgian economy grows from year to year.
- The bank has already allocated more than €3 billion for Georgia and 79 percent of the money is for the development of the private sector.
- Its current portfolio of projects in Georgia is worth €859 million.
Sir Suma Chakrabarti, born in 1959 in West Bengal, India, is the sixth President of the EBRD.
The EBRD's Board of Governors re-elected Sir Suma as President of the Bank for a second four-year term in 2016. He began his first term in 2012, having replaced Thomas Mirow.
The European Bank for Reconstruction and Development (EBRD) increasingly trusts the government of Georgia and its economic policy, says new Managing Director for Eastern Europe and the Caucasus Matteo Patrone.
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.
The European Bank for Reconstruction and Development (EBRD) is offering €15 million to finance the improvement of the solid waste collection and management system in Georgia’s capital of Tbilisi.
Georgia’s capital of Tbilisi is hosting the 2018 European Bank for Reconstruction and Development (EBRD) Trade Finance Forum and 200 participants from 40 countries.
Georgian Prime Minister Mamuka Bakhtadze will start his official working visit to Japan tomorrow. In Japan PM Bakhtadze has scheduled to meet with Japanese Foreign Minister Tarō Kōno and Finance Minister Tarō Asō.
‘We are in search of new opportunities in Georgia’
The European Bank for Reconstruction and Development (EBRD) is in search of new opportunities to further increase its support in 2019, said the Vice-President of the EBRD Pierre Heilbronn at the 16th Batumi International Conference.
Georgian Prime Minister Giorgi Gakharia has met with the First Vice President of the European Bank for Reconstruction and Development (EBRD) Jürgen Rigterink and noted the key role of the EBRD in the development of Georgia.
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