The 'Enterprise in Georgia' Agency to Expand Functions, Aiding Companies in Securities Issuance

In 2024, Georgia will continue its structural reform of the capital market, aiming to diversify the types, increase the number and accessibility of securities in the market, and enhance the development of the local investor base.

This initiative aligns with the strategic objectives outlined in the Capital Market Development Strategy for 2023-2028," reads the program of the candidate for Prime Minister of Georgia, Irakli Kobakhidze, "Building the European State." The program emphasizes four pivotal areas: foreign policy, economic development, social policy, and governance.

The document also highlights several initiatives designed to foster the growth of alternative financing mechanisms:

Bond Issuance Co-financing - Starting in 2024, the 'Enterprise in Georgia' agency will take on new roles, including assisting companies with securities issuance. The plan for 2024 aims to support up to 15 beneficiaries, enabling them to secure up to an additional 150 million GEL in investment resources from the stock market. Investment Funds Development - In collaboration with the World Bank, 'Enterprise in Georgia' will continue its efforts to establish private equity funds, with the state participating as a limited partner. Over the next three years, the goal is to back 2-3 funds with a total capitalization of up to 70 million GEL. Asset-Based Financing Promotion - The year 2024 will see the introduction of an asset-based financing platform, enabling companies to leverage their assets for additional credit resources. Additionally, the framework for real estate investment funds and the regulatory guidelines necessary for the adoption of trusts will be established," outlines the plan.