Tbilisi, Georgia, May 14, 2008—The
World Bank Group has announced the launch of the fourth round of the Business
Environment and Enterprise Performance Survey, a joint initiative of the
European Bank for Reconstruction and Development and the World Bank in
Georgia. For the first time IFC has joined the initiative, and the survey
will now cover issues specific to IFC’s advisory activities. The regional
data from the survey will complement IFC’s efforts to monitor the changes
in the business enabling environment and assess the impact of regulations.
The objective of the survey is to obtain
feedback from enterprises in client countries on the state of the private
sector. Through interviews with 360 firms in the manufacturing and services
sectors, the survey will assess the constraints to private sector growth
and create statistically significant business environment indicators that
are comparable across countries.
The World Bank is implementing the business
environment survey around the globe, using a standardized questionnaire
adapted to each country. Topics include the adoption of technology and
innovation, competition, the qualifications of the workforce, informality,
access to financial services, infrastructure, and impact of government
The survey will continue gathering data
to provide year-to-year, cross-country business environment measures. It
will also revisit previously interviewed businesses to compile comprehensive
panel data that will allow researchers to track changes in the business
environment, measure the effect of these changes on establishment performance
over time, and assess the effects of reforms.
The research team began interviews in
April, and the preliminary results are expected in September 2008. The
results, together with additional information from other investigations,
will form the basisof policy recommendations to the government for promoting
investment, productivity, and economic growth.
The European Bank for Reconstruction and Development (EBRD) established
in 1991 is the largest single investor in central and eastern Europe and
the CIS. It provides project financing for banks, industries, small &
medium size businesses, both new ventures and investments in existing companies.
It also works with publicly owned companies, to support privatisation,
restructuring state-owned firms and improvement of municipal services.
The Bank uses its close relationship with governments in the region to
promote policies that will bolster the business environment.
EBRD in Georgia
The EBRD’s Resident Office in Tbilisi was opened in November 1997. In
October 2006 the EBRD has established a regional centre for the Caucasus
in Tbilisi, with the aim to strengthen its activities and build on its
successful portfolio in the countries of the region.
EBRD, as one of the largest investors
in Georgia’s private sector. During 2007, the EBRD signed a total of 27
projects covering energy, transport, agribusiness, general industry and
banking for a total commitment of €192 million.
For more information, visit www.ebrd.com.
The World Bank in Georgia
Georgia joined the World Bank in 1992 and the International Development
Association in 1993. Since then, the Bank has provided financing for 43
IDA projects totaling $904 million. Currently, there are 17 IDA credits
under implementation, totaling $275 million. The World Bank Group Country
Partnership Strategy for FY06-09 is designed to assist Georgia in implementing
a second phase of reforms. Its goals include generating growth, creating
jobs, enhancing human development and social protection, and strengthening
public sector management and budgetary processes. For more information,
IFC, a member of the World Bank Group, fosters sustainable economic growth
in developing countries by financing private sector investment, mobilizing
private capital in local and international financial markets, and providing
advisory and risk mitigation services to businesses and governments. IFC’s
vision is that people should have the opportunity to escape poverty and
improve their lives. In FY07, IFC committed $8.2 billion and mobilized
an additional $3.9 billion through syndications and structured finance
for 299 investments in 69 developing countries. IFC also provided advisory
services in 97 countries. For more information, visit www.ifc.org.
Georgia became a shareholder and a member
of IFC in 1995. As of September 30, 2007, IFC has committed nearly $258
million in 23 projects in the country’s financial, power, oil and gas,
and manufacturing sectors. In addition to investments, IFC conducts advisory
programs in Georgia to promote corporate governance and improve the business
enabling environment, with support from BP and its oil and gas partners
and the Canadian International Development Agency. For more information,