Georgia to establish multifunctional bank modelled on energy development fund, PM

Georgia plans to establish a new multifunctional bank, modelled on the operational framework of the existing Energy Development Fund, Prime Minister Irakli Kobakhidze has said.

Speaking to journalists on Tuesday,  Kobakhidze said the bank would combine the functions of several current institutions, potentially including activities in the energy sector.

He added that full details on the bank’s structure and operations would be made public once the institutional reform is completed. “Regarding details, we will provide society with complete information on how this bank will operate. It may cover the energy sector. We will explain this to the public in detail later,” he said.

The prime minister stressed that the bank would follow a similar operational approach to the Energy Development Fund, and that further information would be shared once concrete decisions are made on various related matters.