Bridging Concerns: EBRD President Odile Renaud-Basso Discusses Georgia’s “Foreign Agents” Law and Its Impact on Investor Confidence

During a media briefing ahead of the European Bank for Reconstruction and Development’s (EBRD) annual meetings in Armenia, President Odile Renaud-Basso expressed concerns about Georgia’s draft “foreign agents” law. The law, which is currently making its way through the Georgian parliament, would require organizations receiving more than 20% of their funding from abroad to register as agents of foreign influence. Critics view this requirement as authoritarian and influenced by the Kremlin.

The uncertainty surrounding the draft law has raised concerns about its impact on Georgia’s economy and investor confidence, highlighting the potential risks associated with the legislation. Alkis Vryenios Drakinos, EBRD’s regional director for the Caucasus, acknowledged that the investment climate had not yet changed due to the draft law. However, he highlighted the potential threat it poses to what was otherwise projected to be a strong year for the bank’s investments in Georgia.

President Renaud-Basso emphasized that Georgia has benefited economically from making positive reform progress, but the tension surrounding the draft law could impact