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OPIC Significantly Increases Investment Limit of Georgia

OPIC Significantly Increases Investment Limit of Georgia

An “independent” U.S. Government agency The Overseas Private Investment Corporation (OPIC) increases investment limit in Georgia.

Georgian Finance Minister Dimitri Kumsishvili and Dev Jagadesan, Acting President and CEO for OPIC have discussed the issue within the frame of a business trip to the USA.

The parties have considered issues of bilateral cooperation, including ongoing projects in Georgia funded by the support of OPIC and financing opportunities of the potential projects.

“We had a very important meeting at the “independent” U.S. Government agency. This organization supports development of our country from 1995. However, investment of more than 500 million USD is implemented through this period. Today the organization adopted essential decision – they are significantly increasing country’s investment limit. We are glad that the United States will be able to make new, bigger investments in our country”, – said Dimitri Kumsishvili, First Deputy Prime Minister and Minister of Finance.

“We have a very fruitful cooperation with Georgia. We have significant success in expanding our business and making investments in your country. The United States Government Investment Corporation sees great opportunities in the development of your country and is willing to invest more in the future. We plan to increase our portfolio significantly and take specific steps to make more American investments in your country. United States Government Investment Corporation will continue active cooperation with the Government of Georgia”, – Dev Jagadesan, Acting President and CEO for OPIC declared.

Kumsishvili expressed his gratitude towards U.S. Government agency and President of OPIC for the support – including the financial sector, tourism, healthcare, agriculture, education, industry, real estate, energy, small and medium enterprise development.

Among the projects funded by independent” U.S. Government agency include: American Hospital in Tbilisi ($ 18 million); GMT Hotels chain ($ 29 million); “Wendy” restaurants throughout Georgia (18.9 million USD); JSC Bank of Georgia – credit line of 30 million USD for small and medium businesses.

The meeting was attended by Zurab Alavidze, the Minister of Regional Development and Infrastructure and Nikoloz Gagua, Deputy Finance Minister.