EBRD hopes for investor interest in Georgia

Photo: EBRD hopes for investor interest in Georgia / Georgia

Tbilisi, Georgia, Jan. 15
By Nana Kirtzkhalia - Trend:

The European Bank for Reconstruction and Development (EBRD) expects investments to increase in Georgia. Competition and antitrust legislation will be developed, Managing Director of the bank, Olivier Descamps told media on Tuesday after a meeting with Georgian Minister of Finance Nodar Khaduri.

The main issues discussed were current and future projects funded by EBRD.
"It is important to develop cooperation with the Georgian new leadership as the government is forming a medium-term economic development programme," Descamps said.

"We are one of the largest investors in Georgia," Descamps said. "Even more will be done in the future for investments to be increased in the country, so competition and the antitrust legislation are to be strengthened. Direct foreign investments declined last year, but it was a global trend. We hope that investors will show an interest in Georgia."

The finance minister is optimistic about the future cooperation strategy.
"The EBRD has been working in Georgia for 20 years and invested more than $1.8 billion," Khaduri said.

"We discussed the reforms that must be implemented in Georgia," Khaduri added. "Future cooperation with the EBRD will be specified in the near future."

Translated by NH
Edited by SM

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