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EBRD's shareholder representatives visit Georgia
Representatives of the shareholders of the European Bank for Reconstruction and Development arrive in Georgia this evening for a three-day visit, the first by the EBRD's Board of Directors to the country since 1998.
The Directors will visit the Black Sea port of Poti, where the Bank recently agreed to lend $9.2 million for construction of an oil-tank farm; Kutaisi, in western Georgia; and Tbilisi, where they will meet with Georgian business and government leaders, including President Eduard Shevardnadze.
The Board of Directors represents the EBRD's 62 shareholders - 60 countries plus the European Union and the European Investment Bank. The Board approves all EBRD investments. Their visit aims to underline the EBRD's commitment to further support private-sector investments in Georgia, as well as to help Directors better understand the country's investment climate and reform efforts as the Bank starts preparing a formal new strategy for the country.
The EBRD is one of the largest investors in Georgia, with cumulative commitments of €242.5 million ($221 million).
The delegation will include Jan Krzysztof Bielecki, Director for Poland, Bulgaria and Albania; Joaquin de la Infiesta, Spain and Mexico; John Kerby, United Kingdom; Byung Hwa Jin, Korea, Australia, New Zealand and Egypt; Serguei Ovseitchik, Russian Federation, Belarus and Tajikistan; Philippe Petit-Laurent, European Community; Enzo Quattrociocche, Italy; Norbert Radermacher, Germany; and Yuri Poluneev and Ionut Costea, Director and Alternate Director, respectively, for Ukraine, Romania, Moldova, Georgia and Armenia.
The delegation will hold a press conference at 1915hrs on Friday 14 September 2001 at the State Chancellery in Tbilisi, following the meeting with President Shevardnadze.
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