Georgian finance minister, EBRD first vice president review cooperation, projects
The officials reviewed the current and future projects funded by the bank in energy, municipal infrastructure, banking and agriculture sectors. Photo: MOF of Georgia
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Current and future projects funded in Georgia by the European Bank for Reconstruction and Development were discussed on Thursday in a meeting between the Georgian finance minister Lasha Khutsishvili and Jurgen Rigterink, the first vice president of EBRD.
Khutsishvili thanked Rigterink for the support provided by the EBRD to Georgia on its “path of European aspirations”, the ministry said.
The officials reviewed the current and future projects funded by the bank in energy, municipal infrastructure, banking and agriculture sectors.
Khutsishvili provided information about the current situation in the country's economy, indicators of growth and future forecasts.
Great to catch up with Georgian Minister of Finance (and @EBRD Governor) @Lasha_Kh! Topics included energy security, the impact of the war and the numerous projects we are working on together! pic.twitter.com/k9z8DCQC5l
— Jurgen Rigterink (@JRigterink) October 13, 2022
The meeting noted that despite the current “geopolitical shock”, the Georgian economy maintained “high rates” of economic growth, sustainability and macroeconomic stability.
Rigterink “positively assessed” the dynamics of cooperation between the bank and Georgia and noted the EBRD was “ready” to play an “important role” in the development of the country in the post-pandemic period.
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Georgian finance minister Lasha Khutsishvili has discussed cooperation between Georgia and international financial institutions as part of his ongoing visit to the United States for annual meetings of the International Monetary Fund and the World Bank Group.
Cooperation between Georgia and the United States, including in the successful programmes for strengthening the capabilities of Georgia’s revenue service, was discussed on Friday in a meeting between the Georgian finance minister Lasha Khutsishvili and Bonnie Jenkins, the United States undersecretary of state for arms control and international security.
The tendency of dropping prices and inflation should continue in the coming months with the inflation rate coming closer to the target three percent for the second quarter of 2023, Georgian finance minister Lasha Khutsishvili said on Monday.
Lasha Khutsishvili, the Georgian finance minister and Koba Gvenetadze, the head of the country’s National Bank, within the framework of the visit to the United States, held meetings with the executive director of the International Monetary Fund Paul Hilbers, the director of the Middle East and Central Asia department of IMF, Jihad Azour, and the director of the IMF fiscal affairs department, Vítor Gaspar.
Georgian prime minister Irakli Garibashvili on Wednesday discussed “successful cooperation” and future prospects between the European Bank for Reconstruction and Development and the country’s authorities with Odile Renaud-Basso, the president of the institution.
Activities of the International Monetary Fund in Georgia were discussed on Friday in a meeting between Georgian prime minister Irakli Garibashvili and James John, the head of the IMF mission in the country.
Georgian finance minister Lasha Khutsishvili on Wednesday reviewed the post-pandemic economic challenges in the country in his address at the Organisation for Economic Co-operation and Development high-level panel discussion on Overcoming the Current and New Challenges of Transparency and Information Exchange.
The cooperation in the field of taxation between Georgia and Spain was discussed on Wednesday by the Georgian finance minister Lasha Khutsishvili and his Spanish counterpart María Jesús Montero, the finance ministry said.
The European Bank for Reconstruction and Development has allocated a sovereign loan of €50.6 million, including an investment grant of about €5 million, from its Green Climate Fund to finance the renovation of up to 12 metro stations in the Georgian capital city of Tbilisi, the Bank announced on Tuesday.
Sectoral cooperation between the Georgian Government and the European Bank for Reconstruction and Development in areas including infrastructure was discussed on Tuesday in a meeting between officials from the country and Mark Bowman, the EBRD Vice President for Policy and Partnerships.
An annual report by the European Bank for Reconstruction and Development on Monday said the institution had offered a total of €218 million to Georgia in 2022, with investments ranging from healthcare to energy efficiency and from financing for small and medium-sized enterprises to credit lines to local banks and trade.