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Home / Business / The Partnership Fund to Complete the Construction of Hotel “Radisson Tsinandali” by the End of the Year
Kenneth Angell, Managing Director of the United States Government Development Financing Institute OPIC is visiting the Partnership Fund.

The Partnership Fund to Complete the Construction of Hotel “Radisson Tsinandali” by the End of the Year

Kenneth Angell, Managing Director of the United States Government Development Financing Institute Overseas Private Investment Corporation (OPIC) is visiting the Partnership Fund.

David Saganelidze, Executive Director of the Fund has discussed ongoing joint projects and long-term future cooperation issues with Kenneth Angell.

The sides discussed the project “Radisson Tsinandali”, which is implemented by the American corporation with the Partnership Foundation; The construction of the hotel is underway in Tsinandali, which is planned to be completed by 2017.

Cooperation with OPIC also involves participation in the Gazelle Finance Fund.

OPIC Managing Director discussed the Effective Action Plan for Cooperation and set out specific tasks during the meeting held at the Partnership Fund.

The Memorandum of Cooperation was signed between the Partnership Fund and OPIC in spring of 2016. The Parties actively cooperate in several projects within the framework of the Memorandum.

In order to support economic stability, OPIC has invested $ 500 million in more than 50 projects in Georgia. The Partnership Fund delegation visited the US in September, 2016 for the purpose of attracting American investments and accessing financial instruments.

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities.

All OPIC projects are carried out in accordance with high standards of environmental and social protection. The corporation respects human rights, including the rights of employees. In keeping with these standards, OPIC strives to establish high standards in the countries in which they work. OPIC services can be used in more than 160 countries. Since 1971 OPIC has invested USD 200 billion.

OPIC is one of the first development institutions that invested in Georgia after the country declared its independence in 1991. OPIC has invested $ 500 million in more than 50 projects, including agriculture, tourism and franchise networks. According to current data, OPIC is funding more than 20 ongoing projects in support of economic stability in the country.