The European Bank for Reconstruction and Development (EBRD) said Tuesday that it signed a memorandum of understanding with the Georgian government to establish an investors council.

The council will aim to increase and promote investments by bringing representatives from government, private industry and investors together and will serve as a facilitation platform for public and private sectors.

“(This agreement is) a milestone for Georgia toward improving and strengthening the business environment and stimulating domestic and foreign investments," EBRD President Suma Chakrabarti said. "With this initiative, Georgia is taking an important step toward further improving the development of the private sector.”
   
With this plan, the bank and Georgian government expect to improve the business climate by strengthening foundations of activity through trust and understanding. The bank and government also said that international development organizations and institutions are invited to join and take part in the council.
  
EBRD is one of the largest investors in the country and has supported over 175 projects.