By Georgy Kalatozishvili, Tbilisi, exclusively for Vestnik Kavkaza
Georgian Prime Minister Garibashvili proposed the revival of the State Bank to manage investments and state assets. Georgia has the State Partner Fund and the private Co-Investment Fund that have the same functions, so the restoration of the Soviet bank does not make sense, neither does the Georgian Dream coalition give any explanations.
Minister for Finances Nodar Khaduri said that the State Bank will be based on the State Partner Fund. However, a state bank is a typical institution used in countries with strict state regulation of finances and investments. Many experts call the bank a step backwards. Ex-President of the National Bank Roman Gotsiridze doubts that the bank would manage state assets and investments efficiently.
David Saganelidze, leader of the Georgian Dream coalition’s fraction at the parliament and candidate for president of the State Bank, noted that inspiration to found the bank came from China. He clarified that the bank will be formed by late 2014. It will not be a commercial structure to grant loans and open deposits. It will invest in major projects.
In this case, the bank will be an analogy of the Co-Investment Fund formed by Bidzina Ivanishvili. The Co-Investment Fund has $6 billion of assets but has not made a single major investment. The bill on formation of the bank will soon be sent for consideration to the Liberal Fraction.
By Georgy Kalatozishvili, Tbilisi, exclusively for Vestnik KavkazaGeorgian Prime Minister Garibashvili proposed the revival of the State Bank to manage investments and state assets. Georgia has the State Partner Fund and the private Co-Investment Fund that have the same functions, so the restoration of the Soviet bank does not make sense, neither does the Georgian Dream coalition give any explanations.Minister for Finances Nodar Khaduri said that the State Bank will be based on the State Partner Fund. However, a state bank is a typical institution used in countries with strict state regulation of finances and investments. Many experts call the bank a step backwards. Ex-President of the National Bank Roman Gotsiridze doubts that the bank would manage state assets and investments efficiently.David Saganelidze, leader of the Georgian Dream coalition’s fraction at the parliament and candidate for president of the State Bank, noted that inspiration to found the bank came from China. He clarified that the bank will be formed by late 2014. It will not be a commercial structure to grant loans and open deposits. It will invest in major projects.In this case, the bank will be an analogy of the Co-Investment Fund formed by Bidzina Ivanishvili. The Co-Investment Fund has $6 billion of assets but has not made a single major investment. The bill on formation of the bank will soon be sent for consideration to the Liberal Fraction
