AIIB will put first investments in Georgia

By Gvantsa Gabekhadze

Monday, September 14

Georgia’s Prime Minister Irakli Garibashvili met with the representatives of the Asian Infrastructure Investment Bank. Photo by Prime Minister’s webpage

Irakli Garibashvili became a honorable professor of the International University of Business and Economy of Beijing. Photo by Prime Minister’s webpage

Georgia will be one of the first states in which the Asia Infrastructure Investment Bank (AIIB) will invest.

The Bank President, Jin Liqun, stated on September 11 that the bank is due to start functioning by the end of this year.

In the course of the meeting with the bank's representatives, Georgia’s Prime Minister Irakli Gharibashvili put emphases on a profitable business environment in Georgia, as well as on the country’s important strategic location and the benefits Georgia was waiting for the Deep and Comprehensive Free Trade Agreement ( DCFTA) with the European Union ( EU).

“There are many fields in Georgia Chinese investors might be interested in,” Garibashvili said.

In particular, the PM stated that transport, energy, tourism, healthcare and agriculture sectors might be especially attractive for foreign businessmen in Georgia.

Georgia is a cofounder of the AIIB. Georgia was the 45th country that joined the Bank founder and the first one that confirmed the joining with the ratification of a relevant document.

The Bank was thought to support Georgia in finding financial resources for infrastructural and other projects.

Garibashvili stated yesterday that as a final result Georgia was waiting for 500 billion USD in financial support from the bank.

After the meeting, the Prime Minister, in the Frame of the World 9-13 September Economic Forum in China, gave a speech at the Beijing’s International University of Business and Economy, where he was awarded with the title of “honorable professor” of the University.

The PM touched upon the increasing trend of close cooperation between Georgia and China and spoke about the role and importance of a New Silk Road that envisaged finding of fastest and easiest ways of connecting Europe and Asia.

As in his previous meetings, Gharibashvili stressed that centuries ago Georgia was part of the route and now the country was absolutely ready again to become a logistical and connecting centre of Europe and Asia.