The Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), Scott Nathan visited Georgia and held meetings with the Prime Minister and other high-level Georgian officials to discuss the next steps to develop Georgia’s economy and how to support Ukrainian businesses impacted by the ongoing Russian invasion.
Mr. Nathan met with Georgian Prime Minister Irakli Garibashvili during his visit, where the two discussed cooperation between the U.S. DFC and the Georgian government. The Prime Minister emphasized the role of the U.S. DFC in “strengthening” the financial sector of Georgia since it’s early engagement with Georgia in the 1990s.
The meeting was also attended by other officials, including Economy Minister Levan Davitashvili, Finance Minister Lasha Khutsishvili, U.S. Deputy Chief of Mission Ryan Harris, and DFC Delegation Member Naz El-Khatib.
Additionally, the U.S. DFC CEO signed an agreement with Gazelle Finance, an impact investment firm focused on Georgia and Armenia, to provide “technical assistance” for Ukrainian firms shifting operations to Georgia due to Russia’s invasion of Ukraine and “enable financial support” for Ukrainian businesses attempting to “rebuild the economy.”
“DFC’s technical assistance facility with Gazelle Finance provides direct economic support to displaced Ukrainians in Georgia through private sector investment, particularly for SMEs that already face major barriers to accessing financing,” Mr. Nathan said, and added that, “The facility will help enable Ukrainian companies to navigate this difficult period. Over time, the facility will protect jobs and create new market opportunities to grow their businesses.”
Mr. Nathan also met with the U.S. Embassy’s contacts in the renewable energy sector to discuss how the U.S. can support the “immense renewable energy potential” of Georgia.