US agency OPIC increases investments in Georgia

The United States government’s Overseas Private Investment Corporation (OPIC) significantly increases the investment limit for Georgia, says Georgia’s Finance Minister Dimitry Kumsishvili.

The news came after the Minister’s meeting with ​​​​​​​​​​​​​​Dev Jagadesan, an Acting President and CEO of OPIC in the United States (US).

We had a very important meeting at the OPIC. This is an organisation that has been supporting Georgia since 1995. Since then the OPIC has invested more than $500 million in Georgia,” said Kumsishvili.

Today a very important decision was made in the organisation – they will significantly increase the investment limit for Georgia. We are more than happy to see that the US will invest heavily in Georgia,” he added.

While in the US Kumsishvili also met  leading economist and Senior Vice President of the World Bank Paul Romer.

While in the US Kumsishvili also met leading economist and Senior Vice President of the World Bank Paul Romer. Photo by Georgia's Finance Ministry.

At the meeting Kumsishvili talked about the planned and ongoing reforms of the Government of Georgia and Romer expressed the initiative to personally take part in the development processes.

The World Bank high official promised the Bank to continue fruitful cooperation with Georgia to support the country’s investments opportunities and raise the economic competitiveness of Georgia.

Georgian Minister also met Mercedes Vera Martin from the International Monetary Fund (IMF) where the officials talked about the IMF’s new three-year technical assistance program.