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Country data

Population:
4.5 million
Area:
70,000 sq km
Capital:
Tbilisi
Currency:
Lari

Key developments and challenges

  • Political uncertainty has weighed on economic growth. Private foreign and domestic investments declined in the lead-up to, and following, the 2012 parliamentary elections, as the new government reversed many policies of the former administration. The government also slowed disbursement of capital spending.
  • The authorities have pursued socially-oriented economic policies. The government reallocated expenditures to social categories, negotiated a reduction in energy tariffs, and introduced universal coverage of basic health insurance and a minimum income exemption for income tax purposes. A new labour code was adopted that granted greater protection to employees.
  • Progress was made in increasing access to Russian and European markets. After a five-year embargo, Georgia resumed exports of mineral water, wine and other agricultural products to Russia. The authorities also concluded the technical part of negotiations on the draft Association Agreement with the European Union (EU).

Georgia in the 2013 Transition Report

Our work in Georgia

Our work in Georgia ranges from boosting the financial sector to promoting reform in the telecommunications sector.

Georgia

Key facts about the EBRD's work in Georgia

No. of projects

167

Net EBRD investment

 €1,869 million

Gross disbursement

 €989 million

Portfolio in private sector

78%

 

Last updated 31 March 2014

View factsheet


Our strategy in Georgia

  • Fostering private investment. The Bank will continue to pursue operations with private sector clients directly and, indirectly, via private banks operating in Georgia. As the business environment in Georgia is generally very good, policy dialogue activities in this area will focus on the unfinished reform agenda in the area of governance, rule of law and competition policies, in line with the authorities’ priorities.
  • Completing the modernisation of the energy sector. The Bank will complete the energy sector projects started during the past strategy, which aim to increase energy production and access export markets. Future projects will foster private sector participation and will be supported by policy dialogue in the areas of domestic markets reform and introduction of modern regulatory frameworks.
  • Supporting Georgia’s regional and global economic integration. The Bank will focus on projects in various areas including infrastructure, logistics, telecommunications and the financial sector that would support cross-border economic activities. The Bank will support opportunities for skills transfer to enable Georgian companies to take advantage of trade opportunities and to become more competitive in a wider regional and international context.

 

Read strategy

CONTACTS

6 Marjanishvili street, (Green Building, IV - V floor)
0105 Tbilisi
Georgia

Phone: + 995 322 44 74 00
Fax: + 995 322 92 05 12