MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with the Managing Director of the European Bank for Reconstruction and Development (EBRD) Matteo Patrone, who is on a working visit to the countries of the South Caucasus region.

Deputy Minister Vakhtang Tsintsadze, Alkis Vryenios Drakinos, who is due to resume his duties as a new Regional Director of the EBRD for the Caucasus in Tbilisi on September 1, and Catarina Bjorlin Hansen, current Regional Director of the EBRD, also attended the meeting.

The meeting was focused on the review of the main directions of the successful cooperation between Georgia and the EBRD and the priority directions of the future cooperation.

It was highlighted that the EBRD is one of the major investors in the economy of Georgia – its portfolio in Georgia reaches about 5 billion euros and it implements projects in such important directions as increasing the competitiveness of small and medium-sized businesses, developing the financial sector, energy efficiency and utilization of renewable energy sources, sustainable infrastructure and municipal services. In addition, 82% the projects implemented by the Bank falls on the private sector.

The meeting also discussed the current and planned structural reforms in Georgia and the progress of large investment projects, including those in the fields of energy and transport. In particular, the potential of the middle transport corridor, the vision of the Georgian Government on the development of the Black Sea port infrastructure, including the Anaklia Deep Sea Port project, etc.

Representatives of the EBRD confirmed their readiness to participate in large investment projects.