Mr. Irakli Kovzanadze, Chairman of the Budget and Finance Committee of the Parliament of Georgia, opened the event. Mr. Shalva Papuashvili, Chairman of the Parliament, welcomed the audience and underlined the importance of the project. His introduction was followed by short speeches from Mr. Teimuraz Janjalia, Deputy Minister of Foreign Affairs of Georgia, Mr. Pawel Herczynski, Ambassador of the European Union to Georgia and Ms. Maaike van Koldam, Ambassador of the Kingdom of the Netherlands. After the official opening part of the event, attention was paid to two substantive topics. The important role Parliamentary Budget Offices and Independent Fiscal Institutions play in monitoring fiscal policies in OECD/EU countries was explained in general, as well as the specific position of the Parliamentary Budget Office in Georgia. Challenges of parliamentary oversight inpublic finances was the second subject on the agenda. Via a direct online connection, Mr. Joost Sneller, Chairman of the Committee of Public Expenditure of the Dutch House of Representatives and Mr. Irakli Kovzanadze discussed the respective systems and challenges of oversight.

“The parliamentary oversight function is one of the cornerstones of democracy. Oversight is a means for holding the executive accountable for its actions and for ensuring that it implements policies in accordance with the laws and budget passed by the parliament. The robust monitoring of the executive by the parliament is an indicator of good governance”- emphasized Mr. Pawel Herczynski,Ambassador of the European Union to Georgia.

“Oversight in public finances is important for the effective management of public resources and proper implementation of the state budget. In this respect, the best practice of the Netherlands is extremely valuable. This Twinning project will contribute to the improvement of mechanisms of parliamentary oversight in public finances ’’, - stated Mr. Shalva Papuashvili, Chairman of the Parliament of Georgia.

“European best practice in the area of parliamentary oversight in public finances is important for the effectiveness of public finances and accountability to the public’’, - highlighted Mr. Irakli Kovzanadze, Chairman of the Budget and Finance Committee.

It is the first EU Twinning project with the Parliament of Georgia as beneficiary. It is in line with the EU-Georgia Association Agreement (AA) requirements. The project's objective is to increase the Parliamentary Budget Office’s analytical capacity and visibility and enhance the Budget and Finance Committee’s cooperation and communication with key actors, civil society and general public. It aims to improve parliamentary oversight in public finances and raise public awareness and involvement in these matters.

Twinning is a European Union instrument for institutional cooperation between Public

Administrations of EU Member States and beneficiary or partner countries. Twinning projects bring together public sector expertise from the EU Member States and beneficiary countries to achieve concrete mandatory operational results through peer-to-peer activities.