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Georgia overview

Dam in Georgia

In Georgia we focus on:

Supporting private sector competitiveness through innovation, enhanced value added and convergence with Deep and Comprehensive Free Trade Area (DCFTA) standards and obligations. We will continue supporting SMEs and the local private sector via the well-developed local banking sector with a focus on high-potential areas such as agriculture, hospitality and innovation where we plan to deploy support in workforce training skills focused on regional inclusion, youth and gender.

Deepening financial intermediation and developing local currency and capital markets to enable the private sector to have better access to finance.

Expanding markets through inter-regional connectivity, expanding Georgia’s potential as a regional link through further modernisation of the country’s infrastructure. The EBRD will explore the financing investments under private-public partnership frameworks that will enable Georgia to take advantage of its geographic position between the South Caucasus, Central Asia and Europe.

Renewable energy, resource efficiency and climate change adaptation to improve competitiveness and resilience of the economy. We will continue supporting the creation of renewable generation capacity in hydropower, wind and possibly solar, as well as building transmission lines to connect with regional markets. A special Energy Efficiency Action Plan will be developed to tackle excessive energy consumption.

As well as being a country where the EBRD works, Georgia is also an EBRD donor. In 2014 Georgia signed a €1 million contribution agreement to the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund.  And the second contribution agreement for €2 million was signed in 2020.

The EBRD’s latest Georgia strategy was adopted on 8 December 2021


Current EBRD forecast for Georgia’s Real GDP Growth in 2023 6.0%

Current EBRD forecast for Georgia’s Real GDP Growth in 2024 4.5%

The economy grew at a robust rate of 7.6 per cent year on year in the period from January to July 2023. Financial services, tourism, construction, and trade were the main drivers of growth, while the manufacturing and mining sectors registered  declines. Income generated by foreign travellers increased by 57.9 per cent year on year in the first half of 2023 and tourism revenues are now well above pre-pandemic levels.

Georgia in the EBRD’s 2022-23 Transition Report

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