Georgian Economic Development Corporation to be established on the basis of the “Make in Georgia” agency - Prime Minister

Today, by our decision, a new institution will be established, called the Georgian Economic Development Corporation, - Prime Minister of Georgia Irakli Kobakhidze announced this at a government session.

According to the Prime Minister, this institution will be established on the basis of the “Make in Georgia” agency and several functions, including the functions of the Development Fund of Georgia, will be merged into it.

“New instruments will be added to the “Make in Georgia” program, and existing instruments will also be optimized, as a result of which access to finance for the private sector will increase. New initiatives include initiated loans and capital market development instruments. Special attention will be paid to specific sectors, including energy, where companies will have increased access to cheap loans. "An investment agency will be established as an independent agency within the Ministry of Economy, which will actively work to attract new foreign investments to Georgia," the head of government said.