14 June 2024,   00:28
Georgia sets top-class example for achievement in market development - EBRD Treasurer

The EBRD treasury and the National Bank of Georgia [NBG] officially presented a paper containing an analysis of the involvement of the EBRD, the NBG, and local financial institutions in shaping the financial landscape of Georgia.

Axel van Nederveen, the Treasurer of the European Bank for Reconstruction and Development, commended Georgia’s achievements at the presentation.

“What Georgia has done as a small country with an open economy is top-class. The success story of the country’s market development highlights several key messages for other markets wishing to develop local currency financial markets”, - he said.

The document provides an analysis of the EBRD’s involvement, along with that of the NBG and local financial institutions, in shaping Georgia’s financial landscape. It primarily focuses on enhancement of the role of the Georgian national currency in the local economy and establishment of tools and infrastructure for “sustainable and healthy financing” of the real economy.