The European Bank for Reconstruction and Development (EBRD) will hold its annual Meeting and Business Forum May 14-15 in Tbilisi, the first time it has been held in the Caucasus region, where it will ask shareholders for a mandate to respond to persistent challenges in the transition economies it serves, the bank said on Thursday.

The EBRD will put forth three priorities -- strengthening transition resilience to improve the investment climate, addressing regional and global challenges, and promoting integration by supporting investments that strengthen cross-border links — in a strategic plan that aims to facilitate growth among its member states.

“Our aim is to step up our engagement, to deepen and broaden our response with a greater emphasis on combining financial investment with policy dialogue that supports reform," EBRD President Sir Suma Chakrabarti said.

Economists at the forum also will have forecasts available as bank leaders and shareholders determine the best course of action. Current indicators suggest the path to regional growth and stability will be difficult as Russia's economic weaknesses impact the region outside of the federation.