The Economic Development Corporation plans to support more than GEL 40 billion in investments in the Georgian economy over the next decade, according to its new Director General Irakli Gabriadze. He made the announcement during the presentation of the corporation’s new team, introduced by Economy Minister Mariam Kvrivishvili.
Gabriadze said the government-established corporation will operate across several key areas, including export promotion and the development of financial instruments. He added that one of its core objectives will be to attract alternative sources of financing and diversify lending mechanisms in the economy.
The corporation was formed through the reorganization of the former “Produce in Georgia” agency and the Georgian Development Fund. It is expected to continue programs focused mainly on subsidizing interest rates for business loans and may also engage in direct lending, although further details remain limited.
Deputy Economy Minister Irakli Nadareishvili also said the corporation will support major sectors such as energy, logistics, and infrastructure. However, the International Monetary Fund has expressed concerns, warning that the new institution should avoid competing with commercial banks and creating potential fiscal risks for the state budget.
