News & Media

Working meeting with IMF representatives

Posted on: 11 Sep 2013

Irakli Kovzanadze, Executive Director of the Partnership Fund (PF) met with Mark Griffiths, IMF Mission Chief for Georgia, Edward Martin, IMF Permanent Representative in Georgia and Dmitry Radev, head of the IMF fiscal mission to discuss implementation of PF-financed projects. The process to transform the PF into Sovereign Fund was also on the meeting’s agenda.The also sides discussed the rules of formation of the supervisory and investment councils of the Sovereign Funds as well as the methodology and criteria of future projects to be financed by the PF. "In the near future, the Georgian Parliament will discuss the appropriate changes in the law, which was drafted in close cooperation with International Monetary Fund and Reed Smith, an international consulting company having a rich experience in creating sovereign funds. I think, by the end of 2013, the legal procedures will be completed and the PF will continue operation as a Sovereign Fund,” Mr. Kovzanadze said.