Hydropower Investment Promotion Project (HIPP) Final Report

HIPP's first International Financial Institutions (IFIs) event was held on June 24, 2010, with the goal of bringing together investment professionals from diverse institutions to share their experience in hydropower advisory and financing activities. The event was organized to gain preliminary input into various IFI financing programs and parameters, as well as to learn from the experience of similar hydropower development programs in other countries. The roundtable was attended by IFI and HIPP representatives, USAID and Ministry of Energy officials, including First Deputy Minister Marika Valishvili. The event also served as a capacity-building session for the Ministry of Energy's Investment Unit. Several key IFIs were contacted to participate in the event, including the European Bank for Reconstruction and Development (EBRD), Asian Development Bank (ADB), European Investment Bank (EIB), KfW, International Financial Corporation (IFC), World Bank, US Export/Import Bank (ExIm Bank), and US Trade Development Agency (USTDA). Although many of the invited IFIs were unable to attend due to conflicts, the participation of the IFC, ADB, and the submission of a presentation by KfW were sufficient to enable a quality discussion. The event featured presentations by IFIs and advisors from Georgia HIPP on key topics relevant to IFI investment participation and international experience. The USAID-approved agenda and copies of the presentations delivered are attached as an appendix to this report. The roundtable had excellent presentations and lively discussions among members of the audience and speakers. Key takeaways from the roundtable included the active participation and keen interest of Deputy Minister Valishvili, the highly appreciated presentation by the IFC representative Martin Sobek, and the discussion on the Turkish Market as an export market for Georgia. The roundtable served as an important first event that brought the entire HIPP Project into discussions with counterparts within the Ministry of Energy, including both formal and informal. Next steps include building on this event to organize and implement larger, more strategic roundtables and workshops in the nearest future. A follow-up Roundtable is planned with the more significant participation of key IFIs active in Georgia, as well as key counterparts within multiple Georgian Government entities, to discuss how to improve and develop the hydropower investment climate in Georgia.