Top EBRD officials to visit Armenia, Georgia and Azerbaijan
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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Irakli Garibashvili, Prime Minister of Georgia Holds Online Meeting with Odile Renaud-Basso, President of EBRD
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.
EBRD and EU strengthen support to small businesses in Georgia
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".