In a media briefing ahead of the European Bank for Reconstruction and Development (EBRD) annual meetings in Armenia, EBRD President Odile Renaud-Basso expressed her concerns about the potential impact of Georgia’s controversial draft “foreign agents” law. The draft legislation, currently making its way through the Georgian parliament, would require organizations that receive more than 20% of their funding from abroad to register as agents of foreign influence. Critics of the law see it as authoritarian and inspired by the Kremlin.
Renaud-Basso emphasized the importance of Georgia’s economic progress, which has been supported by good reform efforts. However, she expressed concern that the tensions surrounding the draft law could have negative economic implications for Georgia. She highlighted the potential impact on the private sector and the willingness of investors to invest in the country. The EBRD is in contact with its partners to monitor the situation and assess the potential consequences of the draft legislation on Georgia’s economy and investor confidence.
The draft legislation has sparked protests in Georgia, and both Brussels and Washington have urged Tbilisi to reconsider the law. They warn that implementing the law could harm Georgia’s chances of European Union membership and its broader Euro-Atlantic future. Renaud-Basso emphasized that while EBRD supports good governance, it does not interfere with domestic politics or laws unless they affect its operations or mission.
