The Minister of Finance Ivane Matchavariani met with EBRD President



Today, the Minister of Finance, Ivane Matchavariani met with the President of European Bank for Reconstruction and Development Sir Suma Chakrabarti, who is on a working visit to Georgia along with the bank delegation.

It should be noted that this is his fourth visit to the country as the EBRD President.
At the meeting, the Minister of Finance particularly noted the role of the European Bank for Reconstruction and Development as a strong partner and donor in the process of development of the country and highly appreciated the visit of the President of the Bank in support of institutional development of our country.

In his turn, the EBRD President emphasized the history of the Bank's successful cooperation with Georgia and noted that the EBRD will continue to make significant investments in the country, which is one of the exemplary reformers.

At the meeting held at the Ministry of Finance, the parties discussed the activities of the Bank, current and future projects supported by EBRD in such priority directions such as: Development of municipal infrastructure, sustainable waste management, energy and energy efficiency, education sector, promoting private sector competitiveness through approaching the Deep and Comprehensive Free Trade Area (DCFTA) standards.

During the meeting, the discussion touched upon the EBRD's special contribution in the work of the council of investors, the aim of which is strengthening public-private cooperation format (PPP) in the country. The focus was on the issues of cooperation in the development of the capital market, as well as the importance of pension reform.

It is worth mentioning that in 2014, the European Bank for Reconstruction and Development was the first international financial institution which issued securities on the local market denominated by Gel. Also, for the first time in 2017, was issued GEL-denominated Eurobonds by EBRD.

The current and future projects in the Energy Efficiency and Environmental Cooperation format of Eastern Europe were discussed.
In conclusion, the sides agreed that Georgia's cooperation with the European Bank for Reconstruction and Development will be strategic and productive in the future too.

The European Bank for Reconstruction and Development is one of the largest partners of Georgia, as for financial cooperation, as well as in the direction of deepening relations with Europe and attracting European Investments. 

As of now, the bank investments in the Georgian economy amounts to approximately EUR 3,2 billion.

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