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EBRD: Georgia remains one of largest beneficiaries of bank

Finance Materials 21 January 2020 17:12 (UTC +04:00)
EBRD: Georgia remains one of largest beneficiaries of bank

BAKU, Azerbaijan, Jan.21

By Tamilla Mammadova – Trend:

Georgia is one of the largest beneficiaries of the European Bank for Reconstruction and Development (EBRD) especially in the energy, agriculture and education sectors, said EBRD First Vice President Jürgen Rigterink, Trend reports citing Georgian media outlets.

He made the remark during the meeting with Georgian Prime Minister Giorgi Gakharia in Davos, Switzerland. The parties discussed the partnership between Georgia and the EBRD and strengthening the economic ties.

"We have invested almost $300 million in Georgia over the last year, and we have a total credit portfolio of nearly $1 billion, 70 percent of our investments are invested in the private sector of the country,” said EBRD first vice president.

Rigterink noted the importance of successful reform implementation process of Georgia. The parties also discussed the importance of developing an inclusive economy and the private sector for Georgia.

The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested over 3.6 billion euro in 249 projects in the financial, corporate, infrastructure and energy sectors, with 89 percent of these investments in the private sector.

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