The EBRD in Georgia

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The EBRD has been investing in Georgia since 1992

In Georgia, we focus on supporting private-sector competitiveness through innovation, developing local currency and capital markets, expanding markets through interregional connectivity, and promoting renewable energy, resource efficiency and climate change adaptation.

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

313

Number of projects to date

€5,649m

Cumulative EBRD investment

€3,373m

Cumulative disbursements

61%

Private sector share of portfolio

Number of active portfolio operations

€1,469m

Current portfolio of projects

€1,069m

Operating assets

Equity share of portfolio

4 September 1992

Joined the EBRD

34,040

Capital subscription (€000)

EBRD Governor: Lasha Khutsishvili
EBRD Alternate Governor: Vacant
EBRD Board Director: Tamás Vojnits
EBRD Board Alternate Director: Klára Król

EBRD Shareholders information

Focus areas

Supporting private-sector competitiveness

Through innovation, enhanced value added and convergence with Deep and Comprehensive Free Trade Area (DCFTA) standards and obligations, the Bank seeks to support the competitiveness of the private sector. We will continue to support small and medium-sized enterprises (SMEs) and the local private sector through 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, emphasising regional inclusion, youth and gender.

Deepening financial intermediation and developing local currency and capital markets

The Bank focuses on helping the private sector gain better access to finance.

Expanding markets through inter-regional connectivity

We seek to expand Georgia’s potential as a regional link through the continued modernisation of the country’s infrastructure. The EBRD will explore investment financing through 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 the 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 an EBRD investee economy, Georgia is an EBRD donor. In 2014, it signed a €1 million contribution agreement with the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund. it followed this up with a second contribution agreement for €2 million, signed in 2020. The EBRD’s latest country strategy for Georgia was adopted on 8 December 2021

6.0%

EBRD forecast for Georgia's real GDP growth in 2025

EBRD forecast for Georgia's real GDP growth in 2026

Georgia’s economy grew by 9.4 per cent in 2024, surpassing expectations and accelerating from 7.8 per cent in 2023. The ICT, education, public administration, trade and construction sectors drove the expansion, and, despite fading war related financial inflows and lower Russian migration, domestic consumption remained strong, fuelled by credit growth and wage increases. Meanwhile, inflation remained low in 2024, averaging 1.1 per cent, down from 2.5 per cent in 2023. It started accelerating in October 2024, driven by rising food prices, and reached 3.5 per cent year on year in March 2025, slightly above the National Bank of Georgia’s (NBG) target of 3 per cent.

The NBG has maintained its policy rate at 8 per cent since May 2024, following a cumulative 150-basis-point reduction earlier in 2024. The NBG’s monetary policy stance remains cautious, balancing support for economic growth with reducing external vulnerabilities. The high real interest rate suggests a deliberate attempt to anchor inflation expectations.

Real GDP growth is projected to moderate to 6 per cent in 2025 and 5 per cent in 2026, close to the potential growth rate, supported by public infrastructure projects and government-backed initiatives, particularly in the transport, energy, and ICT sectors. Meanwhile, political uncertainty and the suspension of the European Union accession process could drag down export growth and investment, as the one-off effect of migration from Russia fades. Downside risks include weaker external balances and external demand, including because of increased trade tariffs and a deteriorating business environment, and slowing credit expansion.

Georgia strategy and snapshot

Georgia strategy

PDF format / 1.07 MB

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Local language translation

PDF format / 1.72 MB

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Report on public comments

PDF format / 0.58 MB

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Georgia country snapshot (English)

PDF format / 0.32 MB

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Georgia country snapshot (Georgian)

PDF format / 2.73 MB

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Georgia diagnostic paper

PDF format / 3.71 MB

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Joint EBRD-EIB Georgia diagnostic

PDF format / 1.72 MB

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Contact the EBRD in Georgia

Head of Office: Alkis Vryenios Drakinos

Address:

EBRD Tbilisi Resident Office, Merani Business Center, 31a Griboedov Street, 6th Floor, 0108 Tbilisi, Georgia

Telephone:

+995 32 2447400

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The EBRD in Georgia

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

Focus areas

Supporting private-sector competitiveness

Deepening financial intermediation and developing local currency and capital markets

Expanding markets through inter-regional connectivity

Renewable energy, resource efficiency and climate change adaptation

Georgia strategy and snapshot

Contact the EBRD in Georgia

Portfolio Data

The EBRD in Georgia

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

Focus areas

Supporting private-sector competitiveness

Deepening financial intermediation and developing local currency and capital markets

Expanding markets through inter-regional connectivity

Renewable energy, resource efficiency and climate change adaptation

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