PM, CEO of US Int'l DFC Discuss Private Sector Development in Georgia

Georgian Prime Minister Giorgi Gakharia spoke with Adam Boehler, CEO of the United States International Development Finance Corporation (DFC) via video conferencing.

The parties focused on current and future DFC projects in Georgia. Special emphasis was placed on the role of the US International Development Finance Corporation in promoting the development of the private sector in Georgia, including under the conditions of the pandemic.

The head of the government noted that this is yet another clear demonstration of the high level of cooperation with the United States of America - the strategic partner of the country - not only in terms of democratization and security but also in terms of the economy. He also emphasized the importance of signing the trade agreement between Georgia and the United States in order for the economic relations between the strategic partners to become even more active.

During his conversation with Adam Boehler, Gakharia also stressed the fact that the Government of Georgia is taking a number of important steps to stimulate and facilitate foreign direct investment in the country, adding that the funding of the PACE Terminal in Poti Port under the conditions of the pandemic is a good example thereof. The Prime Minister thanked the CEO for supporting and funding projects of strategic importance to the country, such as Georgia's maritime and port infrastructure, financial sector, energy, communications, healthcare, tourism, etc.

For his part, Adam Boehler especially noted Georgia's significant positive results in the fight against the pandemic. According to him, both the decisions made by the country's authorities and the efforts of the citizens of Georgia need to be emphasized in this regard. Giorgi Gakharia invited Adam Boehler to Georgia.

The conversation touched on opening a DFC regional office in Georgia, which could cover the countries of Eastern Europe, South Caucasus, and Central Asia. It was noted that DFC has not only the largest but also one of the most diversified portfolios in Georgia. The parties agreed to set up a working group to discuss the given issue.

The importance of strengthening and promoting private investment funds in the regional context was also emphasized.

The video conference was attended by Mr. Caleb McCarry, Counselor to the CEO of the US International Development Finance Corporation, and from the Georgian side, by Giorgi Cherkezishvili, head of Secretariat of the Investors Council of Georgia.