EBRD says it invested €218 million in Georgia in 2022
The EBRD 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. Photo: EBRD
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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.
Catarina Bjorlin Hansen, the EBRD Regional Director for the Caucasus, said last year the Bank had helped its clients in the country build an "inclusive, green and more digitalised economy".
Our support included trade facilitation and the provision of funding to local enterprises, including through partner banks, with additional incentive grants from the European Union”, she noted.
We also invested in energy efficiency in schools and supported the healthcare sector while scaling up gender and inclusion activities, working with our clients to create access to jobs and services”, Hansen added.
Among the projects the EBRD financed in 2022 were:
- Renovation of schools - €40 million
- Promotion of capital markets development - €12 million
- Support of trade finance transactions - €60 million
- SME support - €109 million
The EBRD also said its green financing in Georgia had hit a record 61 percent of the Bank’s total investment volume in the country for 2022.
The European Bank for Reconstruction and Development on Tuesday announced it had reduced its equity stake in TBC Bank, one of the largest lenders in Georgia.
A dozen of Tbilisi’s metro stations will have upgraded infrastructure with the financial support of the Asian Development Bank, mayor Kakha Kaladze announced on Tuesday.
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.
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.
Mariam Kvrivishvili, the Deputy Minister of Economy and Sustainable Development of Georgia, on Wednesday joined the opening of Holiday Inn Express Tbilisi Avlabari, a new hotel of the brand in capital Tbilisi, the Ministry of Economy said.
The European Bank for Reconstruction and Development will assign a $16 million loan, backed by the European Union and Sweden, to Georgia’s Credo Bank to support local micro, small and medium-sized companies and women-led firms in the country, the Bank announced on Tuesday.
Georgian Deputy Economy Minister Genadi Arveladze is participating in the ministerial meeting of the Organisation for Economic Cooperation and Development in Paris, under the theme of Promoting and Enabling Responsible Business Conduct in the Global Economy, the Economy Ministry said on Tuesday.
Georgian Finance Minister Lasha Khutsishvili on Wednesday discussed a pilot programme for the introduction of tax incentives, and the second stage of digital economy taxation in the country with representatives of the Organisation for Economic Co-operation and Development.
Georgian Prime Minister Irakli Garibashvili and Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development, on Saturday reviewed the current and future projects, financed by the Bank, including the ones in the fields of transport and municipal infrastructure, as well as education, energy, banking sector, and agriculture.
Representatives of the Board of Directors of the European Bank for Reconstruction and Development will hold meetings with Georgian officials, entrepreneurs and civil society during their official visit to capital Tbilisi this week, the EBRD announced on Monday.
The long-term cooperation was discussed on Wednesday by Natia Turnava, the Acting Governor of the National Bank of Georgia and Francis Malige, the Managing Director of Financial Institutions for the European Bank for Reconstruction and Development, as well as members of the EBRD’s Board of Directors.