The European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso has expressed concern over the controversial draft “foreign agents” law in Georgia, warning that it may have a negative impact on the country’s economy and investor confidence. The proposed legislation, which is currently being discussed in the Georgian parliament, would require organizations that receive more than 20% of their funding from abroad to register as agents of foreign influence. Critics argue that it is an authoritarian measure inspired by the Kremlin.
Renaud-Basso highlighted the need for dialogue with their partners to address these concerns and mitigate any negative economic consequences. She noted that Georgia 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. Brussels and Washington have also urged Tbilisi to reconsider the law to avoid damaging its chances of European Union membership and a closer Euro-Atlantic integration.
The EBRD’s annual meetings are set to begin in Armenia on May 14, where Renaud-Basso will continue her efforts to promote dialogue and cooperation between countries in Europe and beyond.