President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, started a three-day visit to Georgia on July 16 as part of his trip to South Caucasus countries.

He met PM Ivanishvili; Finance Minister Nodar Khaduri and Economy Minister Giorgi Kvirikashvili on July 16.

“EBRD has a really strong relationship, very strong partnership with Georgia; 2.6 billion dollars of partnership of many years,” Chakrabarti said after the meeting. “I expect us to put another investment this year of around 200 million dollars. That is a sign of our confidence in Georgia and its future.”

To date, the EBRD has invested a total of EUR 1.8 billion for 158 projects in various sectors of the Georgian economy, according to the Bank.

The EBRD plans to approve its new country strategy for Georgia in September 2013, which, according to the Bank, will have three main priorities, including fostering private sector investment; modernization of the energy sector with a modern regulatory framework and promoting Georgia’s regional and global economic integration with an emphasis on projects in the infrastructure, logistics, telecommunications and financial sectors.

During the visit the EBRD president will also meet Energy Minister Kakha Kaladze; President of the National Bank of Georgia Giorgi Kadagidze, as well as representatives of local partner banks and businesses.