EIB president meets with Finance Minister of Georgia

By Khatia Bzhalava

Tuesday, March 2

The meeting with EIB President Werner Hoyer and the Minister of Finance of Georgia, Ivane Matchavariani was also attended by the Minister of Economy and Sustainable Development Natia Turnava, and the Minister of Regional Development and Infrastructure Irakli Karseladze.

In total, EIB has provided 2 billion euros of financial assistance to Georgia’s private and public sectors so far.

Within the framework of the visit of the President of the European Council, Charles Michel, President of the European Investment Bank (EIB) Werner Hoyer visited Georgia for the first time and met with the Vice Prime Minister of Georgia, Minister of Finance, Ivane Matchavariani. The meeting was also attended by the Minister of Economy and Sustainable Development Natia Turnava and the Minister of Regional Development and Infrastructure Irakli Karseladze. According to the statement released by the ministry, the sides praised the positive dynamics of cooperation between Georgia and the European Investment Bank.

In 2024 Georgia is preparing to apply for full membership in the European Union. During the meeting, the minister reaffirmed the country's unwavering efforts to continue European integration. The Vice Prime Minister thanked the President of the EIB for the support towards Georgia in terms of the development and promotion of Georgia's strategic transport infrastructure.

According to the statement, the sides underlined the importance of the Euro100 million assistance provided to Georgia by the European Investment Bank during the Covid-19 pandemic to finance the improvement and modernization of medical facilities and the purchase of necessary medical equipment for the healthcare system. The bank has invested 1.48 billion euros in the public sector so far. In total, EIB has provided Euro2 billion financial assistance to Georgia, including both private and public sectors. The statement reads that Georgia is one of the largest beneficiaries of EIB investments in the EU's Eastern Neighborhood.

The conversation also focused on EIB's involvement in supporting the private sector. The ministry notes that EIB’s programs supporting medium and small businesses were positively evaluated during the meeting.

The President of the European Investment Bank expressed readiness to continue the active partnership with Georgia in the current and especially in the post-pandemic period. The Finance Minister expressed hope that the visit of the EIB President to Georgia would further strengthen the country’s cooperation with the European Investment Bank.