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Hungary plans to invest 350 million Euro in Georgia

Wednesday, October 2
Executive Director of the Georgian Partnership Fund Irakli Kovzanadze received Hungary's State Secretary for Foreign Affairs and External Economic Relations, Peter Szijjarto, on Monday. Szijjarto familiarized himself with the mandate and opportunities of the Partnership Fund. He expressed his desire to cooperate with the Partnership Fund and to intensify economic relations with Georgia.

According to Kovzanadze, a meeting with the Hungarian delegation was fruitful and important.

"Szijjarto showed an interest in the fund's opportunities in the energy and infrastructure projects," he said. "We discussed the development of the railway infrastructure and the possibility of the Hungarian side's participation in the state's energy system. It is important to stress that Szijjarto confirmed the readiness of Hungary's Eximbank to allocate 350 million euro to the companies that will make investments in Georgia." Szijjarto stressed that the Hungarian side is thoroughly monitoring the economic processes in Georgia.

"We have close economic cooperation with the Georgian government as part of the intergovernmental commission," he added. "Today we have been familiarized with the opportunities of the Partnership Fund. I can say that our side will be the author of rather important initiatives in energy, infrastructure and agriculture. We agreed that the initiatives will be also taken by the Georgian side. It is obvious that the exchange of experience and opportunities will intensify the economic cooperation between our countries."

According to Irakli Kovzanadze, a decision was made that the Georgian - Hungarian business forum will be held in Tbilisi in December under the auspices of the Partnership Fund. All concerned companies and business entities from Georgian and Hungarian sides will be able to attend it. (Trend)