The EBRD in Georgia

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The EBRD has been investing in Georgia since 1992

In Georgia, we focus on supporting private-sector competitiveness through innovation, developing local currency and capital markets, expanding markets through interregional connectivity, and promoting renewable energy, resource efficiency and climate change adaptation.

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

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Number of projects to date

€5,897m

Cumulative EBRD investment

€3,538m

Cumulative disbursements

60%

Private sector share of portfolio

Number of active portfolio operations

€1,459m

Current portfolio of projects

€1,107m

Operating assets

Equity share of portfolio

4 September 1992

Joined the EBRD

34,040

Capital subscription (€000)

EBRD Governor: Lasha Khutsishvili
EBRD Alternate Governor: Vacant
EBRD Board Director: Tamás Vojnits
EBRD Board Alternate Director: Klára Król

EBRD Shareholders information

Focus areas

Supporting private-sector competitiveness

Through innovation, enhanced value added and convergence with Deep and Comprehensive Free Trade Area (DCFTA) standards and obligations, the Bank seeks to support the competitiveness of the private sector. We will continue to support small and medium-sized enterprises (SMEs) and the local private sector through the well-developed local banking sector, with a focus on high-potential areas such as agriculture, hospitality and innovation, where we plan to deploy support in workforce training skills, emphasising regional inclusion, youth and gender.

Deepening financial intermediation and developing local currency and capital markets

The Bank focuses on helping the private sector gain better access to finance.

Expanding markets through inter-regional connectivity

We seek to expand Georgia’s potential as a regional link through the continued modernisation of the country’s infrastructure. The EBRD will explore investment financing through private-public partnership frameworks that will enable Georgia to take advantage of its geographic position between the South Caucasus, Central Asia and Europe.

Renewable energy, resource efficiency and climate change adaptation

To improve the competitiveness and resilience of the economy, we will continue supporting the creation of renewable generation capacity in hydropower, wind and, possibly, solar, as well as building transmission lines to connect with regional markets. A special energy-efficiency action plan will be developed to tackle excessive energy consumption.

As well as being an EBRD investee economy, Georgia is an EBRD donor. In 2014, it signed a €1 million contribution agreement with the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund. it followed this up with a second contribution agreement for €2 million, signed in 2020. The EBRD’s latest country strategy for Georgia was adopted on 8 December 2021

6.0%

EBRD forecast for Georgia's real GDP growth in 2025

EBRD forecast for Georgia's real GDP growth in 2026

Georgia’s economy is estimated to have grown by 9.5 per cent in 2024, surpassing expectations and accelerating from 7.8 per cent in 2023. Information and communication technologies (ICT), trade, education, public administration, and construction drove the expansion, while the electricity, gas, steam, and air conditioning supply sector contracted.

The tourism sector reached record highs in 2024, attracting 7.4 million international visitors. Despite fading war-related financial inflows and Russian migration, domestic consumption remained strong, fuelled by credit growth and wage increases. Meanwhile, inflation remained low in 2024, averaging 1.1 per cent, down from 2.5 per cent in 2023 and well below the National Bank of Georgia’s (NBG) target of 3 per cent.

The NBG has maintained its policy rate at 8 per cent since May 2024, following a cumulative 150-basis-point reduction earlier in 2024 (the policy rate peaked at 11 per cent between March 2022 and April 2023). The NBG’s monetary policy stance remains cautious, balancing support for economic growth with external vulnerabilities. The high real interest rate suggests a deliberate approach to anchoring inflation expectations. Real GDP growth is projected to moderate to 6 per cent in 2025 and 5 per cent in 2026, close to the potential growth rate, as political uncertainty, weaker external balances and slowing credit expansion weigh on economic activity.

Lower foreign direct investment and weaker tourism revenues, the result of recent political unrest and widespread protests, may further constrain private-sector growth, while public infrastructure projects and government-backed initiatives, particularly in the transport, energy and ICT sectors, will help cushion the slowdown. Downside risks remain elevated.

Georgia strategy and snapshot

Georgia strategy

PDF format / 1.07 MB

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Local language translation

PDF format / 1.72 MB

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Report on public comments

PDF format / 0.58 MB

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Georgia country snapshot (English)

PDF format / 0.32 MB

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Georgia country snapshot (Georgian)

PDF format / 2.73 MB

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Georgia diagnostic paper

PDF format / 3.71 MB

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Joint EBRD-EIB Georgia diagnostic

PDF format / 1.72 MB

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Contact the EBRD in Georgia

Head of Office: Alkis Vryenios Drakinos

Address:

EBRD Tbilisi Resident Office, Merani Business Center, 31a Griboedov Street, 6th Floor, 0108 Tbilisi, Georgia

Telephone:

+995 32 2447400

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The EBRD in Georgia

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

Focus areas

Supporting private-sector competitiveness

Deepening financial intermediation and developing local currency and capital markets

Expanding markets through inter-regional connectivity

Renewable energy, resource efficiency and climate change adaptation

Georgia strategy and snapshot

Contact the EBRD in Georgia

Portfolio Data

The EBRD in Georgia

A Georgian success story: how EBRD investment is helping to promote a more skilled and inclusive workforce by improving nursing and midwifery occupations, and providing young women and men with the expertise and training they need to thrive.

Focus areas

Supporting private-sector competitiveness

Deepening financial intermediation and developing local currency and capital markets

Expanding markets through inter-regional connectivity

Renewable energy, resource efficiency and climate change adaptation

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