An Economic Development Bank is being established in Georgia

ArmInfo. As part of a planned reform to promote business development, a new institution—the Georgian Economic Development Bank—is being established. This was announced on Tuesday by Mariam Kvrivishvili, the country's Minister of Economy and Sustainable Development.

As for the timeline for the establishment of the new institution, the minister stated that the decree on the aforementioned reform is already ready, and the process will be publicly and officially launched in the next few days.

Kvrivishvili noted that, according to the plan and schedule, the main work will be completed by the end of the current first quarter. The structure will be quite large, and, accordingly, it will take some time to fully assemble the team.

"The new institution will cover all sectors of the country's economy, but the primary focus will be on those sectors that clearly need additional support, including increased funding," the minister said.