On 19 May 2008, at the Annual Meeting of European Bank for Reconstruction and Development held in Kiev, an Agreement between EBRD and Basisbank was signed. EBRD has acquired a 15 percent-stake in Basisbank. The investment will strengthen Basisbank's capital and support its further development.
According to Kurt Geiger, EBRD Business Group Director, the investment in Basisbank will be EBRD’s only shareholding in a Georgian bank without the presence of a strategic investor.
