The Ministry of Economy and Sustainable Development of Georgia has announced that it recently hold a presentation of the Public-Private Partnership (PPP) Policy Document.

The event was attended by the Minister of Economy and Sustainable Development, Dimitry Kumsishvili. European Bank for Reconstruction and Development (EBRD) Regional Director Bruno Balvanera, Asian Development Bank (ADB) Country Director for Georgia Yesim Elhan-Kayalar and other invited guests. 

Dimitry Kumsishvili stated:

“A year and a half ago we started drafting of the private-public partnership legislation. World Bank and the Asian Development Bank supported us in this direction. The Policy Document that we will see today is a base for creation of the appropriate legislation within the first part of the next year.”

The Minister noted that this is another step in the development of the country. This is a new step towards the attraction of investments and making the investors feel comfortable with the new instruments, which private and public partnership will provide.

He also said that Georgia has accomplished a large part of the privatization process in the country and we need this legislation to attract additional investments.

Upon the cooperation between the Ministry of Economy and Sustainable Development of Georgia and the European Bank for Reconstruction and Development, the EBRD ensured technical assistance for the development of the legal framework for the PPP. The technical assistance provided the funding of the 10-month project which was launched at the end of July, 2015.

A study on the existing legislation regarding Georgia public and private cooperation (PPP) and the international practice have already been accomplished by consultants so far.

The next stage envisages preparation of the public-private partnership policy, draft law on public-private cooperation and other relevant recommendations.