The EBRD has made available an emergency solidarity package of €1 billion for its existing clients across 38 economies, including clients in Georgia.

The EBRD said joining forces was the focus of a telephone call between Georgia’s Minister of Finance, Ivane Matchavariani, EBRD Managing Director for Eastern Europe and the Caucasus, Matteo Patrone, and EBRD Regional Director for the Caucasus, Catarina Bjorlin Hansen. EBRD officials pledged rapid financing to help local firms deal with the impact of the coronavirus outbreak.

“The EBRD is a reliable partner of our country and we very much appreciate the Bank’s quick response to the crisis. The financial assistance provided by the EBRD will help the country to ensure its economic stability in the face of the global challenges caused by COVID-19. I would like to thank the Bank’s management for their support and hope that with the help and efforts of our international partners the Georgian economy will be able to overcome today’s situation with as little losses as possible”, - said Ivane Matchavariani.