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Wide-ranging reforms linked to Georgia's EU aspirations have strengthened its economy and improved living standards. Nevertheless, further reforms are still needed and the Covid-19 pandemic has had a big impact on the hospitality sector, which has been a key driving force behind the country's strong growth in recent years. To continue its economic convergence with the EU, Georgia needs to strengthen the conditions for its private sector to thrive. This report aims to identify the key challenges and opportunities for promoting private sector development and investment in Georgia. Written and researched together with the EBRD, it reviews the political and economic environment and then digs deeper into issues of public and private governance, human capital formation, gender inequalities and access to finance, particularly for SMEs. The report also looks at Georgia's external competitiveness and its infrastructure needs, with a particular focus on the energy sector in the context of climate change.

At the crossroad of Europe and Sub-Saharan Africa, the Atlantic and the Mediterranean, Morocco is a key partner of our institutions. Morocco is rich in history and tradition, economic and human resources. The emergence of a dynamic and broad-based private sector can become a powerful driver of job creation, social inclusion and economic resilience. This is all the more important in the wake of an unprecedented crisis that has hit the world economy with no exceptions. In 2020, the AfDB, EBRD and EIB together provided more than MAD 18.6 billion (of which more than MAD 4 billion for the AfDB, MAD 7.9 billion for the EBRD, and MAD 6.7 billion for the EIB) in financing for development in Morocco. This report has been jointly prepared by the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).