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The Partnership Fund hosted bankers from UK

Posted on: 04 Feb 2014

Irakli Kovzanadze, Executive Director of the Partnership Fund met with high officials of BARCLAYS, UK’s multinational banking and financial services company, while they visited Tbilisi. The British delegation included MakramAzer, Vice Chairman of Investment Banking at BARCLAYS, Directors Julian Macedo and Baris Efe as well as George Tkhelidze, Vice Prezident of Investment Banking at BARCLAYS who are studying the investment opportunities of the country and have already met with Giorgi Kvirikashvili, the Minister of Economy and Sustainable Development of Georgia and representatives of the commercial banks. "For us, Georgia is a very important country. We are here to study all the existing opportunities. The country has very good geopolitical location and is important crossroad between the west and the east, especially in terms of connecting with the Chinese market,” Makram Azer, Vice Chairman of Investment Banking at BARCLAYS said at the meeting. Irakli Kovzanadze, Executive Director of the Partnership Fund introduced to the guests the fund’s mission, work guidelines and priority sectors, such as agriculture, manufacturing, infrastructure/tourism and energy sector. The delegation from UK expressed interest in activities of the PF’s daughter companies Georgian Railway and Georgian Oil and Gas Corporation. They also discussed the PF’s priority sectors in 2014. According to Kovzanadze, around 23 projects are under discussion in various sectors. Kovzanadze touched upon the Partnership Fund’s planned transformation into a Sovereign Fund, which he said will increase confidence among foreign investors and will allow the management more freedom of choice. "The goal of the mission is to set up the Sovereign Fund which will be similar to other foreign funds. As a result of the change, our fund will become more transparent and will be more attractive for investors. In addition, after the transformation into the Sovereign Fund we will have the rights to discuss small and medium-size projects,” Kovzanadze said adding that "chances to increase our portfolio will be on the agenda too.”

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