Tbilisi: The Prime Minister of Georgia Giorgi Gakharia met with the European Investment Bank (EIB) Regional Representative in the South Caucasus Machie Chura.
At a meeting at the Government Administration, the Prime Minister stressed the importance of international financial support in effectively dealing with the economic crisis caused by the spread of COVID-19 and thanked the EIB for its active cooperation with both the public and private sectors in Georgia.
The Head of Government stressed the fact that Georgia is preparing to make an ambitious application for full membership in the European Union in 2024, and the support of international development partners in this direction is of great importance.
It was noted during the meeting that the European Investment Bank is one of the largest partners of Georgia and Georgia is one of the largest beneficiaries of EIB investments per capita. Since its inception in the country, the Bank has invested € 1.48 billion in the public sector and a total of € 2 billion in the public and private sectors combined. These include such important projects as roads, energy, water and more.
Talks focused on the upgrading of road infrastructure and network in Georgia with the support of the EIB, which includes the rehabilitation and expansion of various sections of the highway, the construction of a 14.1 km new highway between Zemo Osiauri and Chumateleti and related access roads.
It was noted that in cooperation with local banks, the EIB supports small, innovative businesses through the InnovFin Agreement and the EU4Business Initiative. The meeting also positively assessed the EIB program for access to finance for micro-entrepreneurs, women, youth and rural people, which contributes to the development of financial inclusion and long-term economic growth.