Investment Climate and Governance Initiative (ICGI)
As a major investor in its countries of operation, European Bank for Reconstruction and Development (EBRD) has been active for many years in promoting a better investment climate. To better concentrate these efforts, EBRD launched the Investment Climate and Good Governance Initiative (ICGGI) in 2014, piloting the approach in Albania.
The ICGI is designed to increase the impact of the Bank’s policy dialogue initiatives on governance and the investment climate by taking a more strategic approach to their development. The initiative plays to one of the Bank’s strengths: the interface between the public and private sectors.
The ICGI uses tailored country programmes to strengthen public-private dialogue, for example through investment councils and business ombudsmen. It aims to enhance transparency in business reporting, and to streamline business regulation in order to reduce the administrative burden on firms. The judiciary will also be strengthened, particularly commercial courts, through the development of alternative mechanisms for disputes resolution.