Top EBRD officials to visit Armenia, Georgia and Azerbaijan

Published in Economics
Monday, 16 January 2023 11:14

European Bank for Reconstruction and Development (EBRD) Vice President for Policy and Partnerships Mark Bowman and Managing Director for Eastern Europe and the Caucasus Matteo Patrone will tour the Caucasus from 16 to 19 January, first visiting Armenia, then Georgia, before concluding their trip in Azerbaijan.  

The purpose of the trip is to discuss upcoming projects in both the private but also public sectors. Discussions on financial resilience, policy reform and the preparation for the Bank’s upcoming new country strategies are also on the agenda. 

The visit follows EBRD President Odile Renaud-Basso’s recent tour of the Caucasus in September. 

In all three countries, the delegation will meet the political leadership, diplomats, international development partners, leaders of the business community and the Bank’s existing partners. 

While in Tbilisi, Mark Bowman is also expected to sign a sovereign loan agreement with the Ministry of Finance of Georgia for the rehabilitation and upgrade of up to 12 metro stations in the capital. 

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Press release

Irakli Garibashvili, Prime Minister of Georgia Holds Online Meeting with Odile Renaud-Basso, President of EBRD

Published in Politics
Thursday, 03 November 2022 10:01

Irakli Garibashvili, Prime Minister of Georgia held an online meeting with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD) today. Dignitaries spoke about the successful cooperation and avenues of future interaction between Georgia and EBRD.

The Head of Government of Georgia noted that EBRD is not only a loyal partner of Georgia, but has had a great contribution in the democratic development of the country. Most significant role of the EBRD in addressing the difficulties witnessed in the post-pandemic period was noted at the meeting.
Dignitaries also discussed the specific directions of sectoral cooperation, including the energy security and energy independence of the country, projects of regional importance aimed at the increase of power energy generation through exclusive green/renewable sources, Black Sea connectivity, various infrastructure projects, economic and structural reforms, strengthened role of the private sector, human capital and other.
The Prime Minister of Georgia expressed hopes towards continuing the existing fruitful cooperation. It was noted that support of the EBRD is priceless in the funding of priority areas of the country.
EBRD has so far invested over 4.9 billion Euros through 270 projects in Georgia, out of which a lion’s share is concentrated in the private sector of the country. Georgia is one of the largest beneficiaries of the EBRD.
Meeting was attended by the following officials of the EBRD: Klara Krol, Member of the Board of Directors Representing the Czech Republic, Hungary, Slovak Republic, Croatia and Georgia; Thomas Revial, Director of the President’s Office; Matteo Patrone, Managing Director for Eastern Europe and the Caucasus; Catarina Bjorlin Hansen, Regional Director for the Caucasus; Oleksandr Pavlyuk, Associate Director and Senior Political Counsellor; Tea Melikadze, Senior Banker; Francesca Foglia, Adviser in the President’s Office; David Managadze, Principal Banker for Power and Energy; Nina Davitashvili, Moderator of the Meeting. Georgian attendees included: Levan Davitashvili, Deputy Prime Minister and Minister of Economy and Sustainable Development; Lasha Khutsishvili, Minister of Finance and Revaz Javelidze, Head of Government Administration.
Press Service of the Government Administration

EBRD and EU strengthen support to small businesses in Georgia

Published in Economics
Tuesday, 09 February 2021 11:26

The European Bank for Reconstruction and Development (EBRD) will enhance its advisory services in Georgia to support local small and medium-sized enterprises (SMEs) in digitalisation and access to capital markets during the COVID-19 crisis. Together with Team Europe, the EBRD aims to increase the resilience and agility of the private sector.

Backed by €1.8 million in EU funding, the EBRD will help local firms with their digital transformation to avoid interruptions to their operations because of the pandemic and rebuild their businesses with a focus on sustainable and green practices. The previous phase of funding supported strengthening the competitiveness of the country’s SME sector.

In parallel, the EBRD will assist the National Bank of Georgia with the design and implementation of support mechanisms facilitating access to capital markets – both debt and equity – for local corporates, including SMEs. Targeted support will enhance Georgian companies’ preparedness for capital markets, broaden their funding sources and help attract financing from domestic and international investors. Companies can receive tailor-made advisory services and technical support to improve their corporate governance, transparency and credit rating to source investments across capital markets.

The announcement follows the new EBRD President Odile Renaud-Basso’s first visit to Georgia on 1 and 2 February.

The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested more than €4.2 billion in 262 projects in the financial, corporate, infrastructure and energy sectors.

The news prepared in the framework of the EU project "EU NEIGHBOURS east".

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