“By our decision, a new institution will be established, called the Economic Development Corporation of Georgia,” stated Georgian Prime Minister Irakli Kobakhidze during a government session.

According to the Prime Minister, this institution will be founded on the basis of the Produce in Georgia agency, with several functions, including those of the Development Fund of Georgia, being merged.

“New instruments will be added to the Produce in Georgia programme, and existing tools will also be optimised, enhancing access to finance for the private sector. These new initiatives include initiated loans and measures to develop the capital market. Particular attention will be paid to key sectors, including energy, where companies will benefit from increased access to affordable loans. An investment agency will also be established as an independent entity within the Ministry of Economy, which will actively work to attract new foreign investment to Georgia,” Kobakhidze explained.