The FINANCIAL -- The European Bank for Reconstruction and Development (EBRD) and the Government of Georgia are joining forces to promote investments and improve the business climate in the country.
EBRD President Sir Suma Chakrabarti and Georgia’s Prime Minister Irakli Gharibashvili signed a Memorandum of Understanding about the establishment of an Investors Council with the aim of providing a strong platform for dialogue between the private and public sectors.
The new institution will bring together representatives of the government, state agencies, business associations, the business ombudsman and international investors. The EBRD is financing the activity of the Investor Council’s Secretariat from its dedicated technical cooperation funds and support from the Government of Georgia. Other international development partners have been invited to join, according to EBRD.
The Investors Council will facilitate dialogue at the highest level in order to further improve the business climate, advance economic development and attract additional investors to Georgia. By facilitating mutual understanding and trust, the Investors Council will strengthen the foundations for the expansion of business activities for the benefit of the country. The Council will focus on practical steps needed to address investors’ needs and concerns.
EBRD President Sir Suma Chakrabarti hailed the agreement as “a milestone for Georgia towards improving and strengthening the business environment and stimulating domestic and foreign investments. With this initiative Georgia is taking an important step towards further improving the development of the private sector”
The EBRD is the largest institutional investor in Georgia with over €2.3 billion investments in more than 175 projects. In addition to being a leading investor in many sectors of the Georgian economy the Bank is also providing advisory services and committed to contribute to attract additional investment to Georgia.