The EIB has worked with Georgia since 2007 (first signature in 2010) to support economic and social development in the country.
The Bank operates in line with the European Neighbourhood Policy (ENP), the Eastern Partnership (EaP) and other EU bilateral agreements. We strengthen the labour market and promote employment. The Bank collaborates with Georgia in implementing reforms to achieve a stronger economy and promote connectivity and inclusion.
The key objectives of the EIB under the current External lending mandate (ELM) are development of social and economic infrastructure, support for private sector development, especially small businesses, and climate change mitigation and adaptation.
Investments to improve transport infrastructure, such as the East-West Highway, support Georgia’s transformation into a regional trade hub. Upgrading roads improves safety and connections among EaP countries and with the EU.
Georgia is one of a few non-EU countries who can benefit from European Investment Fund (EIF) operations. These are designed to support small and medium-sized enterprises (SMEs) with risk-sharing instruments.
In 2020, the EIB provided €170 million to support a faster recovery from the COVID-19 pandemic and increase the resilience of the Georgian economy and national healthcare sector. We signed four operations with local banks to unlock new sources of financing for Georgian businesses. This reinforced both local SMEs and mid-caps and the country’s financial sector, boosting their ability to drive the economic recovery.
Modifications to increase efficiency were also applied to conditions for portfolio guarantees under the InnovFin programme.
In 2021, the EU bank will extend COVID-19 response measures to the existing credit line at Liberty Bank. This will support the recovery of Georgian micro, small and medium enterprises (MSMEs) and will sustain jobs, maintain liquidity and operations, and fuel the country’s economic recovery.
Investments in the Georgian healthcare sector
The Bank has also provided financial help to support emergency expenditures in the country’s healthcare sector during the COVID-19 pandemic. Funds will allow upgrades and modernisation of key healthcare infrastructure, including professional training for new medical staff. They will also finance the procurement of essential medical equipment for the country’s healthcare system.
EIB stories in Georgia
Individual stories speak louder than figures and charts. Discover how our work improves the quality of life in Georgia and beyond