Govt Mulls ‘Development Bank’

Government is considering launching a state-run Development Bank of Georgia, Economy Minister, Giorgi Kvirikashvili, said on April 8.

The bank, he said, is planned to be launched “based on reorganization” of state-own JSC Partnership Fund, which holds stakes in major state enterprises, among them the railway, oil and gas corporation and electric power transmission networks.

Officials say that the planned bank, which will not take deposits, will support large-scale infrastructure projects.

Kvirikashvili said that MP Davit Saganelidze, leader of the GD parliamentary majority group, is being considered as a possible head of the planned bank.

Idea of launching the development bank was first publicly voiced by ex-PM Bidzina Ivanishvili last month.


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