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17:04
OPIC TO FINANCE $100 M WORTH OF PROJECTS IN GEORGIA BY 2009 END – GEORGIAN MINISTER

Tbilisi. July 28 (Interfax) - The U.S. Overseas Private Investment Corporation, OPIC, will finance projects worth $100 million by the end of 2009, Georgian Finance Minister Kakha Baindurashvili said.

"OPIC's financing in Georgia amounted to $40 million last year, and now it has grown to $200 million, of which $100 million should come by the end of this year," Baindurashvili told journalists following a meeting between OPIC Vice President Rod Morris and members of the Georgian business community on Tuesday.

The money will be used to finance projects chiefly in the banking, construction, and agricultural sectors, he said.

Georgia is among the 15 countries in whose economies OPIC invests more than in others, he said.

Both OPIC tools, i.e. the financing of projects and insurance of investments, are available to Georgian businessmen, he said.

Morris said OPIC would provide as much support as it can to American companies pursuing joint investment projects with their Georgian partners.  The U.S. companies working in Georgia have encountered bigger economic and political risks since August 2008, and OPIC will help both U.S. and Georgian businessmen overcome these risks by engaging its tools, Morris said.  It was reported earlier that 11 projects financially supported by OPIC are being currently pursued in Georgia.
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