MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili met with the Vice President of the European Investment Bank (EIB), Teresa Czerwińska and discussed priority areas of future cooperation with her.

EIB Global Director Lionel Rapaille, EIB Regional Representation for the South Caucasus Maciej Czura and Deputy Minister of Economy, Genadi Arveladze also attended the meeting.

Support of the European Investment Bank, which is expressed both in terms of public infrastructure construction and private sector financing, was positively evaluated. It was noted that the bank’s investment in Georgia since the beginning of its activities in Georgia has exceeded 2 billion euros, and as for the support of the public projects, the bank’s contribution is amounted to 1,6 billion euros. It was emphasized that Georgia is the leader among the countries of the Eastern Partnership in terms of per capita financing of the European Investment Bank. Attention was focused on financing such sectors as road infrastructure, energy, water supply, telecommunications, etc.

The meeting focused on the economic trends of Georgia and the difficult economic situation in the region. It was noted that despite the challenges in the region, Georgia was not only able to achieve high economic growth, but in the medium term, it has higher macroeconomic indicators among the countries of the region and Europe.

Special attention was paid to the possible participation and financial support of the European Investment Bank in the Black Sea submarine cable project. It was noted that after completing the proper research on the project, the bank plans to consider the possibility of financing the project.

In addition, the European Investment Bank’s involvement in the transit infrastructure development process of Georgia was also discussed.

At the end of the meeting, the parties agreed to continue cooperation both in terms of the country’s public infrastructure and institutional development of the local private sector.