The proposed legislation, currently being discussed in the Georgian parliament, requires organizations that receive more than 20% of their funding from abroad to register as agents of foreign influence. This controversial draft law has led to protests in Georgia and has raised concerns among critics who argue that it is authoritarian and inspired by the Kremlin.
Odile Renaud-Basso, the president of the European Bank for Reconstruction and Development (EBRD), has expressed her concerns about the potential impact of this law on Georgia’s economy and investor confidence. She urged Tbilisi to reconsider the law to avoid damaging its chances of European Union membership and a closer Euro-Atlantic integration.
The EBRD has seen economic benefits from implementing reforms in the past, but the current tensions surrounding the draft law could discourage private sector investment in the country. Renaud-Basso highlighted the need for dialogue with their partners to address these concerns and mitigate any negative economic consequences.
The EBRD’s annual meetings are set to begin in Armenia on May 14, where Renaud-Basso will have an opportunity to discuss these issues with other leaders in the region.
