EBRD President Renaud-Basso to pay first virtual visit to Georgia

On 1 and 2 February, Odile Renaud-Basso, the new President of the European Bank for Reconstruction and Development(EBRD) will visit Georgia in an entirely virtual format. This is the first president’s virtual visit to one of the countries where the Bank invests. Due to the pandemic restrictions, the EBRD President will use digital platforms to meet the President of Georgia, Salome Zourabishvili, the Prime Minister, Giorgi Gakharia, and a number of the government officials.

“I am looking forward to the opportunity to reiterate the EBRD’s commitment to Georgia and our strong support for the country in the face of the coronavirus pandemic. This was demonstrated by our record result in Georgia last year,” said Odile Renaud-Basso.

In 2020, the EBRD invested a total of €630 million through 16 projects in Georgia, doubling the volume seen in the previous year. The Bank continued to concentrate its support on the private sector, which accounted for 79 per cent of total EBRD investment in Georgia last year, with the provision of €135 million in loans to commercial banks for on-lending to local businesses. The EBRD also supported the healthcare sector with a US$25 million loan to Georgia Healthcare Group (GHG), enabling this institution to adapt six major hospitals for Covid-19 patients as well as enhance its diagnostic capacities.

In the infrastructure sector, the Bank financed the modernisation of the Tbilisi metro, continued supporting modern municipal infrastructure in the town of Bakuriani as well as the delivery of modern buses to the cities of Gori, Kutaisi, Poti, Rustavi, Telavi and Zugdidi.

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Press release