Georgian Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, participated in a working meeting convened by the Produce in Georgia Agency to explore new initiatives aimed at advancing investment funds.

Supported by the World Bank, the meeting brought together Ekaterine Mikabadze, the First Vice President of the National Bank of Georgia (NBG), potential investors, representatives from financial institutions, the business sector, and donor organizations.

In his address to the attendees, Irakli Nadareishvili emphasized that the advancement of investment funds represents a strategic pillar of the nation’s economic policy.

“Developing our capital markets is one of the key structural reforms that the Ministry of Economy and Sustainable Development has actively pursued over the past five years in collaboration with the National Bank and international financial institutions. We have established a robust legislative framework that is crucial to the success of this reform,” he stated.

The Deputy Minister highlighted positive trends within the private sector, noting that since the registration of the inaugural investment fund in 2021, the total number of funds has surged to 19, with overall assets increasing by an impressive average of 60% annually.

“Our objective is to promote the creation of private equity funds that are specifically aimed at fostering the growth of small and medium-sized enterprises (SMEs). This initiative will enhance the availability of alternative financing mechanisms for these businesses,” Nadareishvili affirmed.

In closing, the Deputy Economy Minister revealed that the Produce in Georgia Agency is working on establishing a private equity fund to act as a limited partner. In the coming years, with the support and direct involvement of the state, the Ministry plans to facilitate the growth of several private equity investment funds, targeting a total capitalisation of up to GEL 200 million.