EBRD to Invest €300 Million in Georgia's Private Sector, Focused on Middle Corridor

Alkis Vrienios Drakinos, the European Bank for Reconstruction and Development’s (EBRD) Head for the Caucasus, announced that the EBRD expects to invest over €300 million in Georgia's private sector this year.

He emphasized that the institution remains committed to Georgia despite the country’s paused EU integration process, The Caspian Post reports citing Georgia Today.

Drakinos said the EBRD continues to prioritize support for local banks, SMEs and various sectors of the economy. “We are strongly committed to continuing our support for Georgia’s private sector and the country’s development. For example, this year we plan to invest more than €300 million across various sectors in Georgia, including banks and small and medium-sized enterprises. So we are quite active.

At this stage, we are focusing on developing and monitoring existing projects. We have priorities, and we are assessing where and what we should undertake. We will continue researching and developing projects of regional significance,” he said.

Speaking at the Black Sea Platform’s annual conference in Tbilisi, Drakinos emphasized that the strategic importance of the Middle Corridor, calling it a crucial concept for connecting Europe and Asia. He stressed that Georgia sits at the center of this transit route and that the bank is ‘deeply interested’ in participating in all discussions and feasibility stages related to making the corridor a viable transportation link.

The EBRD is already investing in Georgia’s road and railway projects, as well as in infrastructure across other Middle Corridor countries from Central Asia through the Caucasus.

The conference, organized by the EU-Georgia Business Council (EUGBC) with support from GIZ, brings together around 150 representatives of diplomatic missions, business associations, private sector actors and civil society from Georgia, the EU, Azerbaijan, Armenia and Central Asia. Participants are examining challenges and opportunities for more efficient operation of the transit route, with a focus on infrastructure upgrades and reforms that could ease EU trade through the Black Sea and strengthen regional connectivity.