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Who will Contribute to the Co-Investment Fund?

Published: August 30, 2013 | 11:56 am
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TV3 has found out that the presentation of the Co-Investment Fund, which is being established at the Prime Minister Bidzina Ivanishvili’s initiative, is planned for 20 September. Based on the information obtained from the deputy leader of the Co-Investment Fund Giorgi Bachiashvili, TV3 can now list the companies which have already invested into the fund. First on the list, with investments totalling $1 500 000 000, is the Ras Al-Khaimah Investment Authority (RAKIA) from the United Arab Emirates. Ahmet Calik Investment from Turkey, the Dhabi Group from the UAE, and the Sovereign Fund of China are planning to invest $1 billion. Also represented are the Kazakh businessman Alexander Mashkevitch and the Patarkatsishvili family, although Mr. Bachiashvili has been unable to specify the volume of their investment at this stage. Mzia Tortladze, the late businessman’s sister, has also refrained from commenting on the details of the family’s investment.
The economics expert Irakli Lekvinidze has been speaking about the positive aspects of the Co-Investment Fund. According to him, money obtained through the fund will improve both the existing social and economic situation in the country. In contrast, the expert Demur Giorkhelidze has described the fund as ineffective, claiming that it will have little effect on the ordinary citizen, since the investors putting money into the fund are only concerned with redistributing their own spheres of influence.
At a recent press-conference, the Minister of the Economy stated that investments totalling more than $10 billion will be made into the Georgian economy over the next 4 years through the Co-Investment Fund.

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