Partnership fund prospects
By Messenger Staff
Friday, August 24The Partnership Fund was established in 2011 and the state is 100% owner of its shares. The head of the organization is former PM Nika Gilauri. The partnership fund owns 100% of the shares of the Georgian Oil and Gas Corporation, 100% of the shares of the electric energy system commercial operator, 100% of the shares of the Georgia state electric system, 24% of Telasi (Tbilisi Electricity Distribution Company) and 24% of the shares of Georgian Railways.
The foundation aims to facilitate cooperation between the public and private sector, creating investment projects, jobs, attract foreign investment and generally contribute to the development of the countryís economy. The four priority sectors include energy, agriculture, industry and real estate. The Partnership Fundís financial participation is limited to 49% of the aggregated capital. The strategic investors are supposed to support the projects. Some independent analysts challenge the idea of the Partnership Fund saying that there are already many banks and investment funds available in the country. However, the ruling administration thinks that this fund has promising prospects.