Partnership Fund “significant contributor” to Georgia’s economic development - PM

Georgian Prime Minister Irakli Garibashvili on Monday said the Partnership Fund, one of the largest state-owned financial institutions in the country, “has been contributing significantly” to the development of Georgia’s economy for more than a decade by attracting investments and introducing new technologies.

During his speech at the event summarising the activities of the Fund, Garibashvili highlighted its importance, as carrying out some of “the most significant” projects of the country, the PM’s press office said. 

He especially emphasised that the facility of the event, a high-technology plant providing companies with aircraft parts, constructed jointly by the Fund and a Jewish company, was “one more visible example” from the projects carried out by the Partnership Fund.

The thermal power plant in Gardabani of southern Georgia, Tsinandali Estate, A Radisson Collection Hotel in the country's wine-making region of Kakheti, the spa resort of Sairme, central-western Borjomi resort town, and many other projects implemented by the Fund with a total value of $1.8 billion, were also pointed out by the PM.

Garibashvili also stressed the significance of the payments made to the state budget through the projects of the Partnership Fund, adding around 3000 new jobs had been created, with many young people employed, owing to the projects implemented.

As a result of structural reform, the Government will no longer be represented in the management of the Fund, which will be transformed into corporate management, focusing more on investment activities in general, the Head of the Government noted.

The PM thanked Davit Saganelidze, the Executive Director of the Partnership Fund, for his work along with the employees of the Fund, and wished him success in further activities.

Davit Saganelidze, the Executive Director of the Partnership Fund and David Vidan, the General Director of ATC company, producing composite parts for aircraft, also addressed the guests of the event, which was attended by representatives of executive authorities and the Fund's partner companies.