MAY 13 2015 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) holds its 24th annual meeting and business forum in Tbilisi May 14-15, placing Georgia firmly at the centre of the region’s attention.
Georgia is the first country in the Caucasus to host the annual EBRD meeting. Uzbekistan hosted the event in 2003. The Bank is a major player in Georgia, and has invested a total of $3b over the last 22 years.
This meeting is strategically important for Georgia to demonstrate its economic development, especially now, when the country is mired in a currency crisis. The lari has lost around 32% of its value since November.
Deputy minister of finance Davit Lezhava said the meeting was a perfect opportunity to spread information about Georgia to the outside world.
“I hope that the meeting will result in more investment, greater integration with the democratic world and in more political support,” Mr Lezhava told the Bulletin.
Over $7.2m was spent in preparing the EBRD annual meeting by the private sponsors and the government, media reported.
Mr Lezhava said that he didn’t know how much came from the state’s budget.
“But whatever the governmentcontribution was, it is not a waste of money because we will have great benefits from this event,” he said.
ENDS
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(News report from Issue No. 231, published on May 13 2015)