The FINANCIAL, Georgia
Nov 28 2008

EBRD Board Directors to visit Georgia and Armenia
28/11/2008 15:22

The FINANCIAL — Representatives of the shareholders of the European
Bank for Reconstruction and Development are arriving in Tbilisi on
December 1 for a five-day visit to Georgia and Armenia.

During their visits, the EBRD Board Directors will meet with
government representatives, members of the diplomatic and business
communities and representatives of civil society. They will also have
the opportunity to visit EBRD projects in both countries.

Representatives of the Board in the delegation will be Alain de
Cointet, representing France; Carole Garnier, representing the
European Community; Ib Katznelson, representing Denmark, Ireland,
Lithuania, and FYR Macedonia; David Martinez Hornillos, representing
Spain and Mexico; Kalin Mitrev, representing Bulgaria, Poland and
Albania; Hans Sprokkreeff, representing the Netherlands and Mongolia;
Joao Cravinho, representing Portugal and Greece; and Igor Podoliev,
representing Ukraine , Romania, Moldova, Georgia and Armenia. During
their visit, the Board Directors will be accompanied by Michael Davey,
EBRD Director for the Caucasus and Belarus.

In Georgia, the Board Directors will meet government representatives
headed by Finance Minister Nika Gilauri, who is also the EBRD Governor
for his country. In Armenia, where the EBRD delegation will start its
mission on Thursday, meetings have been scheduled with President Serge
Sargsian, Prime Minister Nerses Yeritsyan and Minister of Finance and
EBRD Governor Tigran Davtyan.

The EBRD has significantly increased its activities in Georgia and
Armenia in recent years and invested more than $400 million in Georgia
and almost ??¬200 million in Armenia in all sectors of the
economy. Both countries are part of the Early Transition Countries
Initiative, launched in April 2004, which is using a streamlined
approach to financing to mobilise investment and encourage economic
reform.