EBRD warns Georgia’s new foreign agents bill may deter investment

The European Bank for Reconstruction and Development has warned Georgia’s proposed foreign agents bill, which requires organisations that receive more than 20 per cent of their funding from abroad to register as “agents of foreign influence”, could threaten the bank’s and private-sector investment in the country. 

The draft “Transparency of Foreign Influence” law proposed by the ruling Georgian Dream party would impose fines for non-compliance, and has led to mass protests outside parliament in the Georgian capital, Tbilisi. Opponents claim the bill bears similarities to a “Russian law” used by the Kremlin to crack down on political opponents and silence groups such as non-profits, journalists, human rights and environmental organisations. The bill is scheduled for its third reading on May 17.