The President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso has praised the Georgian government’s effort against the Covid-19 crisis and reaffirmed the readiness of the EBRD to continue supporting Georgia in overcoming the challenges posed by the coronavirus.
During an online meeting with the Georgian Prime Minister Giorgi Gakharia, Renaud-Basso said that the cooperation between the EBRD and Georgia is based on a very strong foundation, as the total amount of investments reached a record high in 2020 – with a total budget of €630 million under 16 projects being implemented in various sectors of the economy.
Excited to be making my first (digital) trip to Georgia ????????— Odile Renaud-Basso (@OdileRenaud) February 1, 2021
This will be the first of many more digital visits to the @EBRD regions.
Record results in the country last year and overall we have invested more than €4 billion there.#BuildBackBetterEconomies pic.twitter.com/L1LZ0Ef9NA
“Our [Georgia and EBRD] next five-year strategy will be focused on Georgia’s needs and priorities. We will be focused on promoting a Green Economy, social equality and digitalization of services. The main priorities are the further development of the country’s private sector, restoration of the economic situation, strengthening of human capital, development of infrastructure and transport”, said Renaud-Basso.
PM Gakharia wished the new president of the EBRD success in her work and mentioned the importance of the European Bank for Georgia’s economy, infrastructure and private sector, with more than 250 projects worth over €4 billion.
Gakharia also said that the EBRD assistance to the private sector is very important for the country.
The private sector is the main driving force of Georgia’s economic development and job creation, so we [the Georgian government] certainly thank the EBRD for such assistance. The most important fields for Georgia are energy, transport, infrastructure, structural reforms and, of course we [Georgia and EBRD] will continue to work in this direction”, said Gakharia.
The meeting was attended by the First Vice Prime Minister of Georgia and the Minister of Regional Development and Infrastructure Maia Tskitishvili, the Minister of Finance Ivane Machavariani and the Minister of Economy Natia Turnava.
During the meeting Turnava mentioned that the involvement of EBRD in structural reforms is very important for Georgia
The involvement in structural reforms, such as the reform of state-owned enterprises, the reform of the capital market is very important for Georgia. I would like to highlight the EBRD’s support for the reform of the energy sector. Assisting Georgia in the development of Green Hydrogen Technology, the rehabilitation of the Enguri Hydro Power Plant (HPP) are one of the most important projects supported by the EBRD in Georgia”, said Turnava.
During the online meeting the ministers and the President of EBRD discussed the economic difficulties caused by the pandemic and stressed the importance of the EBRD for post-pandemic economic recovery.