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Georgian PM to invest about $ 1 bln in Investment fund

Business Materials 10 July 2013 22:55 (UTC +04:00)
It will be invested $ 6 billion in Investment Fund, deputy director of the Partnership Fund Giorgi Bachiashvili said.
Georgian PM to invest about $ 1 bln in Investment fund

Georgia, Tbilisi, 10 July / Trend N.Kirtzkhalia /

It will be invested $ 6 billion in Investment Fund, deputy director of the Partnership Fund Giorgi Bachiashvili said.

According to him, the investment means that in the next four years will be invested 10 billion dollars in Georgia's economy.

According to the Georgian magazine "Liberal", a fund that was supposed to start operating in late 2012, will be ready to start working in September.

"Among the investors will be family of Badri Patarkatsishvili, two sovereign fund of the United Arab Emirates, funds from Azerbaijan and Kazakhstan, private companies from Turkey, Kazakhstan and China," Bachiashvili said, noting that the among of financiers of fund will be Georgian Prime Minister Bidzina Ivanishvili, who will invest about one billion dollars in fund.

According to the magazine, in September also will operational sovereign fund, thay will be established on the basis of the Partnership fund and will finance large projects with funds from the budget. Partner of sovereign fund is an investment group JP Morgan, which one of the shareholders is Bidzina Ivanishvili.

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