Georgian investment capabilities discussed at EBRD annual meeting
Wednesday, May 30
The meeting was hosted by the Director of European Bank for Caucasus, Moldova and Belarus Paul-Henry Forestier.
An investment forum proved especially popular with attendance exceeding expectations. Alongside Kobalia, Minister of Finance Dimitri Gvindadze and Trade-Industrial Chamber President Kakha Baindurashvili gave official presentations. Audience members were particularly interested in hydro-electric energy, agriculture, tourism, and the financial sector.
As it was noted at the forum, Georgia has progressed from being a strategic corridor to becoming a centre of transportation and logistics. The European Bank intends to have an active presence in the Georgian economy in 2012, with 80% of its credit package aimed earmarked for financing private sector projects.
The Georgian government delegation also held a meeting with the President of the European Bank, Thomas Mirow, and his executive directors. Participants discussed Bank policy in Georgia as well as the package structure for 2012.
So far, the European Bank has spent approximately $1.6 billion USD, on rehabilitation of power stations, financing the private sector, and providing support for agriculture. The Bank has a presence in numerous Georgian corporations and financial institutions.
A Georgian business delegation also attended the meeting, participating in a business forum and holding a bilateral meeting with potential investors.
On the last day of her UK visit, Kobalia attended an international exhibition of natural wines in which Georgian winemakers and agricultural representatives participated for the first time. Special attention was given to organic wines fermented in kvevris, the traditional Georgian clay wine vessel.