European Bank for Reconstruction and Development (EBRD) and Georgia concluded a Memorandum of Understanding (MOU) on 10th February, 2015. On behalf of the Government of Georgia it was signed by H.E. Nodar Khaduri, Minister of Finance of Georgia and Governor of EBRD for Georgia. Mr. Enzo Quattrocioche, General Secretary of EBRD counter-signed the MOU.

Parties committed to hold the Annual Meeting and Business Forum of EBRD at a high level in Georgia in May 13-15, 2015 by signing the MOU. It will be the first event of its kind ever held in the Caucasus region.

High ranking officials from 64 countries of EBRD’s operation, international organizations and businesses will participate in the Annual Meeting of EBRD to be held in Tbilisi. In total around 200 delegates will attend the event.

Meeting of the Board of Governors is scheduled to take place within the format of the Annual Meeting, which will assess the Bank’s past performance and define its future strategic directions.

It is significant to hold the 24th Annual Meeting and Business Forum of EBRD in Tbilisi, Georgia to increase the public awareness about the host country, as VIP guests and businesses will gain a possibility to get themselves acquainted with economic, investment, culture and arts opportunities of the country.

Georgia applied for hosting the event in May 2013. In September of the same year EBRD Mission was sent to the country to study the country’s potential. Decision made by the Board of Governors at EBRD, in their opinion, was based on the national reform agenda and steps made forward towards the democratic development of the country, along with Georgia’s positioning as a regional hub with great potential in infrastructure, transport, logistics and energy sectors.

EBRD is a significant partner of Georgia in terms of financial cooperation, as in the framework of EU integration. EBRD has so far invested around 2.2 billion Euros to Georgia through 170 projects. Out of its exposure, 81% is investments in the private sector. On 4th September 2013 EBRD Board has approved a new Strategy for Georgia which elaborates on the institution’s priorities for 2013-2016. Main priority areas of the Country Strategy is to facilitate the private investments, modernization of energy sector and stimulation of Georgia’s regional and global integration to let the country grow into a fully-fledged regional hub.