EBRD Warns Against Foreign Agents Law
The president of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, warned that the foreign agents law may hurt investment in Georgia and the country’s economy, Reuters reported on May 7.
“We were surprised to see it coming back, and we are concerned by the dynamics of what’s involved,” the EBRD President is quoted as saying during a media briefing ahead of the EBRD’s Annual Meeting and Business Forum which is to be held in Yerevan from May 14 to 16, 2024.
“The tension around that [foreign agents draft law] could have an impact, an economic impact, on the private sector and the willingness to invest in the country so we are in contact with our partners,” Renaud-Basso added.
According to the same information, Alkis Vryenios Drakinos, EBRD’s regional director for the Caucasus, also voiced similar concerns by saying that while the draft law has not yet impacted the investment climate in Georgia, it represents a potential threat.
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