Georgia’s Minister of Economy and Sustainable Development, Mariami Kvrivishvili, announced on TV-company Rustavi 2 that Enterprise Georgia will be significantly expanded and transformed into the country’s Economic Development Bank. The reform aligns with the government’s plan, led by Prime Minister Irakli Kobakhidze, to establish a dedicated development bank aimed at supporting strategic sectors of the economy.
According to Kvrivishvili, the decision to liquidate the Georgia Development Fund (formerly the Partnership Fund) was made as part of the state’s optimization policy. The fund’s functions will be merged into a newly enlarged public institution built on the foundation of Enterprise Georgia. She noted that the new agency will be equipped to address challenges across all economic sectors and support businesses of all sizes - small, medium, and large.
While the minister did not disclose detailed priorities of the upcoming Development Bank, she emphasized that the institution will cover the entire economy but will particularly focus on sectors that require additional targeted support. These include manufacturing, in order to reduce import dependence, and energy, where Georgia faces several structural challenges.
Kvrivishvili stressed the importance of increasing installed energy capacity and providing investors with state-backed tools such as improved access to finance.
Regarding the timeline, Kvrivishvili said that the decree enabling the reform has already been prepared and will be officially launched within days. According to the ministry’s schedule, most of the core work will be completed by the end of the first quarter of this year. The new structure will be extensive, she noted, and forming the full team will require additional time.
