Georgian Economy Minister, EBRD Vice President discuss investment projects in Georgia
Levan Davitashvili, the Georgian Economy Minister, on Wednesday hosted Jürgen Rigterink, the First Vice President of the European Bank for Reconstruction and Development. Photo: Economy Ministry press office
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Levan Davitashvili, the Georgian Economy Minister, and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development, on Wednesday discussed the Bank’s activities in Georgia, its financial contributions over the years, and ongoing and planned large investment projects involving the country.
The Georgian official highlighted the EBRD’s “important role” in developing the Georgian economy and stressed the financial institution’s contribution had amounted to €5 billion over the years, with 82 percent of funds used to support the private sector, the Georgian Economy Ministry said.
The meeting also discussed ongoing and planned structural reforms in Georgia and the progress of large investment projects, including in renewable energy and transport.
The potential of the Middle Corridor - a logistics route linking Europe and Asia via the South Caucasus region - was also discussed, along with the Government’s vision for developing Black Sea port infrastructure, including with the Anaklia deep-sea port project.
Tbilisi’s plans to build a new airport in the capital city were also noted in the discussion.
Rigterink and other officials from EBRD confirmed their readiness to participate in large investment projects, before Davitashvili invited the First Vice President to the Tbilisi Silk Road Forum, set to run in the city between October 26-27.
Georgian Prime Minister Irakli Garibashvili on Monday said the long-standing project for the development of a deep sea port in the country’s Black Sea town of Anaklia remained as his Government’s “main and ambitious priority”.
Georgian Prime Minister Irakli Garibashvili on Monday unveiled his office’s “ambitious plans” to build a “new, modern and international-standard” airport, which he said would respond to the Government's intentions of transforming the country into a regional hub.
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.
The European Bank for Reconstruction and Development has raised its economic growth forecast for Georgia, announcing it is expecting the Georgian economy to grow eight percent this year, "significantly higher” than the previously predicted three percent growth.
Ongoing and future projects financed by the EBRD in Georgia were discussed on Wednesday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development.
The European Bank for Reconstruction and Development has granted a $20 million loan to TBC Bank, one of Georgia’s largest banks, for women-led enterprises outside the capital city of Tbilisi.