Georgian govt to set up investment funds
The Georgian government plans to create three investment funds, Prime Minister Bidzina Ivanishvili said at a meeting with journalists on Tuesday.
He said that the first one -- Georgian Sovereign Fund will be based on a partnership fund.
"This fund will stimulate investments and we have discussed its creation and structure with JP Morgan Company," Ivanishvili said.
The second one is the Georgian Youth Foundation which is an innovative fund for financing young scholars.
The third one is a private investment fund which will be a partner for those Georgian citizens and foreigners who intend to implement the investment projects in Georgia.
"This fund will be ready to co-finance the projects from 25 to 65 per cent and will have $2 billion," Ivanishvili said.
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