“Georgia is the leader in terms of support received per capita from the European Bank for Reconstruction and Development.” The Prime Minister also added that the EBRD implemented more than 200 projects in Georgia and invested approximately EUR 3 billion.FactCheck
verified the accuracy of the statement.According to the EBRD’s official project finance database,
the first investment in Georgia, in the amount of EUR 310,000, was made on 21 November 1994. After that, the EBRD provided funds for the restoration of Tbilisi’s airport in 1995 for which EUR 10 million was allocated. Money was transferred for TBC Bank, Bank Republic, Bank of Georgia and other financial and non-financial establishment projects as well as for those of other public sector agencies. In the period of 1996-2016, a total of 208 projects were funded. Of these, 90% was implemented in the private sector and the remaining 10% in the public sector. The total amount of the aforementioned investments reached EUR 2.9 billion.
In the period of 1991-2016, the EBRD provided funds for 5,652 projects in 37 countries with a total volume of EUR 116 billion. In terms of investments per capita, Croatia, Montenegro and Macedonia are the recipient leaders with EUR 848, EUR 815 and EUR 774 per capita, respectively. Georgia is in fourth place with EUR 748 in investment per capita.
Top 10 Countries in Terms of EBRD Investment Per Capita in 1994-2016 (EUR)
|Country||Number of Investments||Amount of Investments||Investments Per Capita|
|5||Bosnia and Herzegovina||140||2,010,161,241||530|
published in March 2017.
The European Bank for Reconstruction and Development was founded in 1991 and made its first investment in Georgia in 1994. Of the total volume of EUR 2.9 billion for 208 investments implemented in Georgia, the largest amount of funds was invested in the banking and agricultural sectors with 36% and 16%, respectively.
In terms of the EBRD’s volume of financial assistance per capita, Georgia occupies the fourth place after Croatia, Montenegro and Macedonia.FactCheck concludes that Giorgi Kvirikashvili’s statement is MOSTLY TRUE.