Georgia’s newly established Economic Development Corporation will also incorporate the Energy Development Fund, Prime Minister Irakli Kobakhidze said.
Established on the basis of the Enterprise Georgia agency, the corporation will consolidate existing institutions, including Enterprise Georgia and the Georgian Development Fund, while introducing new financing tools, such as syndicated loans.
Kobakhidze said the corporation would have a broader mandate than its predecessor programs, expanding support beyond small and medium-sized businesses to include large-scale projects. The initiative aims to accelerate economic growth and strengthen cooperation between the state and the private sector.
The Georgian Energy Development Fund (GEDF) is a state-owned enterprise established in 2010 to develop the country’s energy potential and promote renewable energy sources.
