Georgia is working to develop a framework that fosters renewable energy investments, according to Georgian Finance Minister Lasha Khutsishvili, who spoke at the European Bank for Reconstruction and Development's (EBRD) Annual Meeting and Business Forum.

During the discussion, Khutsishvili stated that recent events have demonstrated that energy independence and security have become global issues.

"Georgia has the potential of generating green energy through its water, solar, and wind resources. EU flagship project on Black Sea connectivity (undersea electricity cable) feasibility of which is ongoing by WB, may play an important part in the integration of the European energy system," Khutsishvili said.

"Further, it is important to continue and even increase our focus on economic and structural reforms. Recent developments in the region have shown the significance of the path of the structural reforms we had been following: state-owned enterprises (SOE) reform and Capital Market reforms, which are aimed at strengthening the fundamentals of our economies," Khutsishvili added.

As reported by Trend News Agency, the European Bank for Reconstruction and Development (EBRD) is convening its 31st Annual Meeting and Business Forum in Marrakech, Morocco, in both physical and hybrid formats this May, after having to hold the event online for two years due to the coronavirus pandemic.