Georgia is among the 38 countries that the European Bank for Reconstruction and Development will allocate for 1 billion euros to overcome the challenges with the economy. This statement has been published on the official website of the EBRD. What amount of funds from 1 billion euros will go to Georgia is not specified.
The assistance that the bank will provide to several states in the framework of the so-called “Solidarity Package” was the main topic of the telephone conversation between the Minister of Finance of Georgia Ivane Machavariani and the EBRD regional director of the Caucasus Catarina Bjorlin Hensen. EBRD representatives emphasized that the amount allocated to Georgia should be aimed at helping local companies to overcome the problems caused by the pandemic.
Georgian Finance Minister thanked the EBRD for support and expressed hope that “with the help of international partners, the Georgian economy will be able to cope with this global challenge with minimal losses.”
The European Bank for Reconstruction and Development is a leading institutional investor in Georgia and since it began operating in the country has invested more than EUR 3.7 billion in 249 projects in the financial, corporate, infrastructure and energy sectors with 87% of these investments coming from the private sector.