EBRD Advices Georgia’s gov’t to be more active to attract investments


The European Bank for Reconstruction and Development [EBRD] has approved a new strategy regarding Georgia.

EBRD’s strategic document for  2013-2016 says  that the Georgian government's efforts in  attracting investments should be  intensified and expanded in order investors and sectors to be diversified.

EBRD names the improvement of competition law, corporate governance and business standards among the current challenges. EBRD reports that an access to capital should be improved for  medium, small and micro enterprises, as well as products quality and hygiene standards in enterprises.

According to the EBRD's Board of Directors, the business environment in Georgia is generally very good, but the new government's economic priorities need improving. The bank is expected to discuss the issue of co-investment with the sovereign fund. EBRD cooperates with Georgia  since 1993 and funded 159 projects.

Adapted from commersant

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