Georgia encourages renewable energy investments – minister of finance

By Trend

Georgia is committed to develop framework, which encourages investments in renewables, said Georgian Finance Minister Lasha Khutsishvili at the Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD), Trend reports with the reference to the EBRD.

During the meeting, Khutsishvili emphasized that the recent developments have shown energy independence and energy security has become a priority worldwide.

"Georgia has a potential of generating green energy through its water, solar and wind resources. EU flagship project on Black Sea connectivity (undersea electricity cable) feasibility of which is ongoing by WB, may play an important part in the integration of the European energy system," Khutsishvili said.

"Further, it is important to continue and even increase our focus on economic and structural reforms. Recent developments in the region have really showed the significance of the path of the structural reforms we had been following: state-owned enterprises (SOE) reform and Capital Market reforms, which are aimed at strengthening the fundamentals of our economies," Khutsishvili added.

The European Bank for Reconstruction and Development (EBRD) is holding its 31st Annual Meeting and Business Forum in both physical and hybrid modes in Marrakech, Morocco this May, after two years in which the event had to take place online because of the coronavirus pandemic.