Economy
Posted: 1 week ago

Government to Reform Partnership Fund into Development Fund of Georgia

The Partnership Fund will be transformed into the Development Fund of Georgia and the new organization will be financed from the state budget.

The Government has already submitted the bill to the Parliament and the legislative body will discuss the document soon. As a result of the Partnership Fund’s reformation, the Development Fund of Georgia will launch operations in January 2022.

The current model of the Partnership Fund and its investment activities were disapproved by the International Monetary Fund (IMF). As recommended by IMF, the Partnership Fund’s activities were limited several years ago.