Georgia's Partnership Fund invites international organizations to implement large-scale projects
Georgia, Tbilisi, Feb. 24 / Trend N.Kirtzkhalia /
Partnership Fund of Georgia, presented by international organizations, major investment projects that have not been able to make the Georgian private sector, Georgian Prime Minister Nika Gilauri said.
The Partnership Fund aims to implement projects that the private sector for various reasons was unable to implement - in some cases, this is need in large investments, in some - geopolitical problems to be solved with the Government," Georgian Prime Minister who presented Partnership Fund said at a meeting in Radisson BLU Iveria Tbilisi hotel.
He said main areas of projects of the Partnership Fund are tourism, exports and agricultural sector. Prime Minister also emphasized the need for the implementation of major energy projects, including large hydropower plants, "an investment portfolio of which reaches half a billion dollars".
"International financial institutions such as European Bank, Asian Development Bank and World Bank have shown great interest in these projects," the prime minister noted.
JSC "Partnership Fund" is a private capital fund, which was established by the state on June 28, 2011. All its assets are in state ownership. The Fund is designed to promote cooperation between public and private sectors for investment projects, creating jobs, attracting foreign investment and national economic development.
The Fund operates in four sectors - energy, agriculture, manufacturing and real estate. Financial participation of the Partnership Fund is limited to 49 per cent of the project's total capital, and up to 25 per cent of the total project cost. The rest of the capital is provided by the strategic investor.