Georgian Co-Investment Fund donates 500,000 GEL to Tbilisi flood victims

The Georgian Co-Investment Fund (GCF) is donating 500,000 GEL to help the victims of the June 13 Tbilisi flood.

This money has already been transferred to an account established by Tbilisi City Hall to help the victims of the flash flood that devastated large parts of Georgia’s capital city.

The Fund’s CEO George Bachiashvili expressed condolences to all the people who suffered in and after the disaster.

"The impact of the floods on the citizens of Tbilisi has been profound, leading to the tragic loss of life and major displacement of families from their homes. We want to express our heartfelt condolences to those who were injured, lost loved ones and have had their properties devastated,” he said.

"I am very proud to say that my colleagues at GCF have taken it upon themselves to begin volunteering in flood clean up works and supplying food and medicines to those in the worst affected areas. As our city tries to recover from this tragedy, we urge the business community, both local and international, to support these efforts through donations however big or small,” Bachiashvili noted

The GCF official stressed to further the recovery operation, GCF and its partner company BitFury Group had set up a joint Bitcoin wallet, which enabled people from all over the world the opportunity to donate, if they wished to support the cause.

Since its establishment in recent days, people have donated more than $58,000 USD via the online currency using secure Blockchain technologies.

"These will be added to the money already donated by GCF and will be focused on supporting flood victims as well as rebuilding and repairing Tbilisi Zoo, which lost hundreds of animals and has suffered significant damage,” GCF noted.

The Tbilisi tragedy has generated strong international support. People, businesses and the international official community have donated to several funds that will help Georgia’s capital city recover from the devastating flash flood.

Earlier the European Union (EU) expressed its full solidarity to the country and said it was ready to deploy assistance to help Georgia recover from the disaster.

The Georgian Government allocated 10 million GEL from the state budget to Tbilisi City Hall to combat the damage. Additionally, Prime Minister Irakli Garibashvili promised every family who had lost a loved one would receive 10,000 GEL (about 4,500 USD) financial aid from the state.

To find out ways to donate to the Tbilisi flood victims, click here.