The FINANCIAL — Irakli Kovzanadze, the Chief Executive of JSC Partnership Fund, met with a delegation of the European Bank for Reconstruction and Development (EBRD) and the President, Sir Suma Chakrabarti.
At the meeting the EBRD delegation was provided with detailed information about the mission, challenges and opportunities of the Partnership Fund as well as about all ongoing projects. The two sides discussed the current process of transformation of the Partnership Fund into the Sovereign Fund.
The EBRD delegation was introduced to the vision of the Fund, about how EBRD would be involved in the Partnership Fund’s activities and what specific investment projects should be implemented from EBRD’s side, according to Irakli Kovzanadze, the Chief Executive of JSC Partnership Fund.
“The EBRD President’s visit to Georgia is a positive signal to investors,” said Kovzanadze. “Sir Suma Chakrabarti’s announcement that EBRD is investing an additional USD 200 million in Georgia raises the importance of the delegation’s visit to the country. Their visit to the Partnership Fund is a most significant occurrence. It was a great honour for us to host such distinguished guests. At the meeting EBRD’s President and high ranking bankers were introduced to the challenges and opportunities of the Fund. They were also introduced to the issues surrounding the transformation of the Partnership Fund into the Sovereign Fund. In addition, we discussed the process of our joint ongoing projects. Together with the Partnership Fund, EBRD is involved in several important projects in cooperation with the Georgian State Electric System, which is a part of the Partnership Fund. We spoke of the specific aspects of expanding our cooperation. I am sure that EBRD’s interest in the Partnership Fund will yield certain results in the future and will give us the opportunity to increase the investment potential of those sectors of the Georgian economy which are a priority of the country (energy, agriculture, infrastructure, real estate, industry),” Kovzanadze added.
It was also interesting for EBRD to visit the Partnership Fund, according to the President of EBRD, Sir Suma Chakrabarti. “It was important for us to be introduced to the opportunities of this strong Fund, the process of its transformation into the Sovereign Fund and to discuss the joint projects with the Georgian State Electric System. We were given complete information about all these aspects by Irakli Kovzanadze, the Chief Executive of JSC Partnership Fund. I do hope that our future cooperation will be valuable and fruitful,” he added.
Discussion about this post