Within the framework of his visit to the US, Levan Davitashvili, Georgian First Vice Prime Minister and Minister of Economy and Sustainable Development met Alfonso García Mora, International Finance Corporation’s (IFC) Vice President for Europe, Latin America and the Caribbean.

According to the Ministry of Economy, the parties reviewed the IFC’s activities in Georgia, ongoing and future projects, and the IFC’s priorities in financing the private sector, such as energy, industry, transport, connections, and Middle Corridor development.

Georgian Finance Minister Lasha Khutsishvili, Deputy Economy Ministers Gennady Arveladze and Vakhtang Tsintsadze, Deputy Finance Ministers Giorgi Kakauridze and Ekaterine Guntsadze and First Vice President of the National Bank of Georgia (NBG) Ekaterine Mikabadze attended the meeting.

Levan Davitashvili remarked on successful cooperation with the IFC in issuing credits to small and medium-sized enterprises (SMEs), which is implemented by Georgian banks. Another priority direction is large-scale projects in energy, the chemical industry and the production of mineral fertilisers.

Davitashvili focused on the IFC’s support of new telecommunication infrastructure projects.

“We see vast potential for private investment in these areas. The corporation will also support private investment in this sector,” he said, adding the IFC-supported projects would contribute to the further development of the Georgian economy, create job places and boost the country’s competitiveness.