EBRD Adopts New Georgia Strategy

The European Development Bank launched a new strategy to guide its activities in Georgia. Over there next three years, the bank’s priorities will be programs to minimize the short- and long-term effects of the economic crisis on Georgia’s economy.

Under the new strategy, EBRD will help Georgian banks resume their lending activities and create a sustainable funding model to boost the local currency.

The bank will also help upgrade the country’s power and transportation sector by rehabilitating and modernizing existing infrastructure. Other EBRD priorities in Georgia include energy efficiency, water management and small and medium-sized business development.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.