Georgian PM, CEO of US International Development Finance Corporation discuss projects, private sector development in Georgia

  • The video conference was also attended by Mr. Caleb McCarry, the Counselor to the CEO of the US International Development Finance Corporation and Giorgi Cherkezishvili, the Head of Secretariat of the Investors Council of Georgia. Photo: Government of Georgia Press Office., 14 Aug 2020 - 13:25, Tbilisi,Georgia

Georgian PM Giorgi Gakharia discussed current and future U.S. International Development Finance Corporation (DFC) projects in Georgia and the role of the DFC in promoting the development of the private sector in Georgia with DFC CEO Adam Boehler earlier today.

This is yet another clear demonstration of the high level of cooperation with the U.S. - a strategic partner of the country - not only in terms of democratization and security but also in terms of the economy,” said Gakharia.

Gakharia noted the importance of signing a trade agreement between Georgia and the United States in order for economic relations between the strategic partners to become even more active.

He also spoke about the importance of foreign direct investment in the country especially under the conditions of the pandemic. He expressed his gratitude to the DFC for supporting and funding projects such as Georgia's maritime and port infrastructure including the PACE Terminal in Poti Port, financial sector, energy, communications, healthcare and tourism.

Adam Boehler noted Georgia's significant positive results in the fight against the pandemic and praised both the decisions made by the country's authorities and the efforts of the citizens of Georgia.

Gakharia and Boehler discussed the possibility of opening a DFC regional office in Georgia, which could cover the countries of Eastern Europe, South Caucasus, and Central Asia.

They also noted the importance of strengthening private investment funds in the region.

The US Overseas Private Investment Corporation (OPIC) was transformed into the US International Development Finance Corporation in January 2020. 

The DFC invests in sectors such as energy, healthcare, critical infrastructure, and technology. The DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.