Giorgi Kadagidze met the EBRD managing director, Olivier Descamps. The main goal of EBRD representatives’ visit to the NBG was to get acquainted with the current economic situation. Giorgi Kadagidze provided the visitors the detailed information about the current situation in the financial sector. The sides also discussed ongoing and planned projects, which are being implemented in Georgia with EBRD financing.  A particular attention was paid to the planned investments for the development of securities market.

In the near future EBRD plans to issue to the local market Lari-denominated corporate bonds. This will be the first security issued in the national currency by the international financial institution; this will help the capital market development, which in turn will result in lower interest rates.

The EBRD delegation includes the EBRD managing director, Olivier Descamps, EBRD Director for Caucasus, Moldova & Belarus, Bruno Balvanera and EBRD political adviser, Mahir Babayev.

EBRD has invested 1.8 billion euro in 158 projects in Georgia, including banking and financial sectors, energy, agribusiness and industry. It also mobilized 3 billion euro from other financial sources to finance these sectors.