10.Sep .2021 10:00

PF Welcomes The Decision To Reform The Organization

PF Welcomes The Decision To Reform The Organization
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The Partnership Fund supposedly will be financed from the budget. Draft plan of the Autumn Session approved by the Bureau of the Parliament of Georgia reveals that amendments should be made to the Georgian legislation, which is conditioned due to the reforms that should be made to the JSC Partnership Fund.

"By adopting the draft bill from the beginning of 2022, it will be possible to reform and fully operate the Development Fund of Georgia," the plan of the parliament reads.

It is also noted that the adoption of the bill will lead to the allocation of additional funds from the state budget. This means that the company, which lost 1.17 billion GEL in 2015-2019, will now depend on a state subsidy.

The Partnership Fund declares that they welcome the decision of the Government of Georgia to reform the Fund and make relevant changes to the Law of Georgia “on Joint Stock Company - Partnership Fund”.

"The mentioned draft bill will be submitted to the Parliament of Georgia by the Government of Georgia after the final version is developed.

So, before the final version, we consider it premature to talk about the details of the draft bill, ” the Partnership Fund said.