OPIC, Partnership Fund team up to finance new projects in Georgia

The United States government’s Overseas Private Investment Corporation (OPIC) is teaming up with Georgia’s state owned investment fund, the Partnership Fund (PF), to mobilise investment capital to finance a range of new projects in Georgia.

In Washington D.C., representatives from OPIC and PF signed a Memorandum of Cooperation which outlined joint financing of new investment projects that will stimulate economic development.

Further details of how much money OPIC and the PF will invest in Georgia, nor which sectors the money will target, were revealed. However, officials said the joint initiative would support the Georgian Government’s new four-point reform plan.

“Within the four-point reform agenda the PF and OPIC have been working to finance start-ups. This will be a fund were the OPIC and the PF will jointly make a financial contribution [and] this way OPIC will once again support our reforms,” said Georgia’s Economy Minister Dimitry Kumsishvili.

The OPIC has cooperated with Georgia since 1991. Since then OPIC has invested over $500 million USD in more than 50 projects in the agricultural, tourism and infrastructure sectors.

As of today OPIC financed more than 20 projects in a range of directions that supported the country’s economy development. (Agenda.ge)