A 10-Year Plan of National Development and a Nationwide Renovation Program were discussed by Irakli Garibashvili, Prime Minister of Georgia, and Teresa Czerwińska, Vice President of the European Investment Bank (EIB) at a meeting held in the format of a video conference today.
The PM shared detailed information on the design and development of the 10-Year Development Plan and a Nationwide Renovation Program was discussed, alongside the significance of support from partners in the given process.
It was noted during the video conference that the EIB will get engaged in the development of small and medium enterprises (SME) and will facilitate the implementation of respective programs. Discussion was also related to economic challenges born in the fight against the global pandemic and key areas of cooperation between Georgia and EIB.
Garibashvili expressed his gratitude to the EIB for the support demonstrated to the country in the fight against the pandemic, which has enabled the Government of Georgia to efficiently respond to challenges in the healthcare sector of the country. It also helped Georgia in the implementation of a plan designed for economic recovery.
The PM noted that investment projects funded by the EIB are most significant for the advancement of the country, especially in the post-pandemic reality.
It was mentioned that continued cooperation between Georgia and EIB is significant not only in terms of large projects, but in terms of policies, as the country is preparing for an EU membership application in 2024. According to Garibashvili, integration into the EU is a firm choice made by the Government and people of Georgia.
So far, EIB has invested almost 2 billion Euros in the private and public sectors of Georgia, as a result of which the county has become a key beneficiary of the EIB by per capita investments in the region of eastern neighborhood of the EU.
The EIB decision on the augmentation of operations in the private sector of the country was praised at the meeting, as economic growth, employment and innovations are mainly driven by the private sector.
The Prime Minister of Georgia also welcomed the efforts made by the EIB towards supporting the advancement of small businesses through the initiatives of the EU, which will facilitate the development of financial engagement and long-term economic growth.