The Parliament of Georgia has approved, in its third reading, the legislative initiative to liquidate the Georgian Development Fund (formerly the Partnership Fund) and to nullify the related law. The decision passed unanimously with 85 votes in favor during the plenary session.
The initiative was introduced by the Georgian government, which argues that dissolving the fund serves the goal of optimizing state structures. According to the explanatory note, the fund’s functions will not disappear but will instead be integrated under the umbrella of the state agency Enterprise Georgia. The reform aims to consolidate business support mechanisms within a single framework and ensure more efficient management of public resources.
Following the adoption of the bill, the legal procedures for liquidation will begin. Once completed, the fund’s assets and ongoing projects will be transferred to the relevant government agencies.
Although Parliament has not yet introduced a bill defining the operational rules for the planned Economic Development Bank, it is already known that the Georgian Development Fund will be merged with the Ministry of Economy’s agency, Enterprise Georgia.
