The European Bank for Reconstruction and Development (EBRD) is in talks with the Tata Group on a potential hydro power project in the East European nation of Georgia.
The EBRD, which invests mainly in the private sector in emerging Europe and North African countries like Egypt, Jordan, Morocco and Tunisia, said the talks were at a very early stage but may culminate this year.
The bank’s president, Sir Suma Chakrabarti, will be following up on the discussions at the World Economic Forum in Davos next week with Tata Group chairman Cyrus Mistry. He also welcomed India’s interest in becoming a member of the multilateral bank.