According to Mariam Kvrivishvili, Georgian Minister of Economy and Sustainable Development, as part of the optimization, the government decided to merge the existing state fund with a new public agency operating at the Produce in Georgia Agency.
“We are ready to respond to challenges facing all branches of the economy and the needs of representatives of small, medium and large businesses. The Produce in Georgia Agency will acquire a larger scale and will be established as the Georgian Economy Development Bank,” she said.
According to the Minister, the new entity will comprise all sectors but will focus on those which require additional attention, including increased allocation of funds.
“Therefore, I would single out production in order to reduce dependence on imports, to promote the development of specific sectors, including energy – we have certain challenges in this regard,” she said, adding the government would assist investors in accessing finances or any other instruments.
Mariam Kvrivishvili further stated that by the end of the current first quarter, the main work will already be completed, the structure will be quite voluminous, and therefore, it will take some time to fully staff the team.
