Ivanishvili initiates moves for increasing investment

Prime Minister Bidzina Ivanishvili suggested an initiative to increase the volume of investments in Georgia. This initiative considers the creation of three funds in the country. The first will be a so-called sovereign fund that will accumulate over $2 billion USD. The second should be an innovative fund – supporting and promoting new prospective projects and the third will be a private investment fund – offering co-financing of up to 75% of foreign and local investors with the initial amount of $2 billion USD. PM Ivanishvili has already mentioned with whom he has been negotiating with during his visit to Davos and he said these would be international transparent funds created based on the model of similar foreign funds. Apart from these funds, a separate fund will be created for developing agriculture. All these plans are in the process of being organized.