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Georgian Finance Minister talks about country’s potential to generate green energy

Georgian Finance Minister Lasha Khutsishvili spoke at the session of the Board of Directors of the European Bank for Reconstruction and Development about his country’s potential to generate green energy.

Minister of Finance of Georgia, Lasha Khutsishvili, who is ruling the European Bank for Reconstruction and Development, attends the annual meeting and business forum of the European Reconstruction and Development Bank (EBRD), which was held in Morocco.

In the plenary session of the EBRD Board of Governors, Georgian Finance Minister once again expressed Georgia’s strong support for Ukraine, its sovereignty and territorial integrity, as well as emphasised Georgia, Ukraine. He also highlighted the importance of supporting Ukraine and enforcing international sanctions.

The main perspective of this year’s European Bank meeting is: “Responding to challenges in a highly changing world” – in this direction, the Finance Minister drew attention to the package approved by the Board of Directors of the Bank in Ukraine and other countries, aimed at strengthening private industry in areas such as trade promotion, energy security, vital infrastructure development, refugee support and more.

“In the context of responding to the challenges of the war in Ukraine, I would like to highlight several areas where EBRD should strengthen support.” Recent developments have shown that energy independence and security have become a priority worldwide. Georgia has the potential to generate green energy. We are ready to develop a legislative framework encouraging investment in renewable energies, also noting the potential Black Sea submarine cable project, which has an important role in connecting the European grid, is a must. Continuing structural reforms strengthen the country’s economic foundation and enhance resilience to shock. I hope that we will again cooperate closely and come out of the crisis with a stronger position,” Finance Minister Lasha Khutsishvili said.

As part of the European Reconstruction and Development Bank’s annual meeting and business forum, the finance minister will meet the bank’s first vice president, Jurgen Rigterink and the bank delegation. A meeting with the International Cooperation Bank of Japan is planned.

The annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD) are attended by the President of the National Bank, Koba Gvenetadze, Deputy Minister of Finance Ekaterine Guntsadze and vice-president of the National Bank, Papuna Lezhava.

Zurab Kvaratskhelia

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