Georgia: The Deputy Minister of Economy and Sustainable Development of Georgia, Irakli Nadareishvili participated in the agency “Produce in Georgia.” The new proposal to support the establishment of investment funds was considered at a well-organized working meeting conducted by the Deputy Minister on April 18, 2025, Friday.
The participation of the Deputy Minister was observed by an event that was supported by the World Bank. The event was attended by representatives from both potential asset management companies, as well as potential investors, financial institutions, the business sector, and donor organizations.
The details regarding this were shared by the social media handles of the Ministry of Economy and Sustainable Development of Georgia. According to the details provided by the Ministry, it was noted that the presentations to the audience were presented by Irakli Gabriadze, Deputy Director of the Agency “Produce in Georgia” and Shanti Divakaran, Senior Financial Sector Specialist of the World Bank.
The minister mentioned that capital market development is one of the major structural reforms that the Ministry of Economy and Sustainable Development has been actively implementing over the last 5 years in cooperation with the National Bank and international financial organizations. “We have created a solid legislative framework, which plays a fundamental role in the success of this reform,” Irakli Nadareishvili noted.
He also highlighted the positive developments noticed in the private sector after the government-initiated reform. As the Deputy Minister noted, their number has increased to 19 since the registration of the first investment fund in 2021; the total assets under their management have increased by an average of 60% annually; the corporate bond market doubled in 2023 and reached 1.9 billion GEL; the assets under the management of the Pension Fund of Georgia exceeded 6 billion GEL and others.
Minister Irakli Nadareishvili noted about the second phase of the reform, launched recently. The second phase of the reform aims to strengthen and stimulate venture capital, bond market, private capital, and similar instruments. “Our goal is to promote the establishment of private capital funds focused on the growth of small and medium enterprises,” He added.
According to the deputy minister, this initiative will contribute to the development of alternative financing mechanisms for small and medium-sized businesses.
