The Government of Georgia and the European Bank for Reconstruction and Development (EBRD)are uniting to promote investments in the country.

Today EBRD President Suma Chakrabarti and Georgia’s Prime Minister Irakli Garibashvili signed a Memorandum of Understanding (MoU) about the establishment of an Investors Council at a meeting in Tbilisi.

Investors Council 

"The Investors Council will actively work in the direction of increasing investments in Georgia,” said PM Garibashvili at a joint press conference with the EBRD top official.

"The Council will create a new platform between Government and businesses and will provide for the development of cooperation and improvement of business climate in Georgia,’ he said.

The EBRD President said by facilitating mutual understanding and trust, the Council would strengthen the foundations for the expansion of business activities that would benefit Georgia. In addition, the Council would focus on practical steps needed to address investors’ needs and concerns.

"The agreement is 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,” Chakrabarti said.

The MoU was signed today at the Government Administration building within Chakrabarti’s official visit to Georgia. The EBRD official arrived in Tbilisi earlier today to attend the EBRD’s 24^th Annual Meeting, which will be held in Tbilisi on May 14-15. It is the first time an event of this magnitude has been held in Georgia.

Chakrabarti noted the EBRD was the largest investor in Georgia, with over €2.3 billion investments in more than 175 projects.