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Partnership Fund Makes Special Contribution To Economic Development - PM

04.07.23 10:00
“Partnership Fund is one of the largest public financial institutions of our country, which has been making its special contribution to the development of economy in our country for over a decade,” stated Irakli Garibashvili, Prime Minister of Georgia when delivering a keynote speech at the Summary Event of the Partnership Fund today.

According to the Head of Government of Georgia, the Partnership Fund has very significant projects carried out in the country, noting that the total value of Partnership Fund-implemented projects amounts to USD 1.8.

“If we take into consideration that its actual exposure is over 250 MLN USD, it means that each invested USD 1 has raised another USD 7 from domestic or foreign investment sources, which is a truly impressive outcome.

Also, I wish to note that the revenues to the State Budget of Georgia from projects implemented by the Partnership Fund and its daughter companies are in the hundreds of millions of GEL, which is very important. Also, almost 3000 new jobs were created as a result of implemented projects. A lot of youth is employed, including here – at this facility.

You may well be aware that structural reform was carried out at the Partnership Fund most recently. David noted that the Parliament of Georgia adopted a new law and we are planning certain changes. The government will no longer be represented through its ministers and neither will I be involved in the governance of the Partnership Fund. Instead, it will transition to have a corporate governance structure and principles compatible with the best international standards. Greater focus will be made on the general investment operation. It is our vision for the future development of the fund,” Garibashvili asserted.