U.S. Development Finance Corporation CEO Visits Georgia

The Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), Scott Nathan is visiting Georgia to meet with government officials, local partners, and American investors to discuss how to further develop Georgia’s economy and support Ukrainian firms affected by the war.

Nathan met with Prime Minister Irakli Garibashvili today to discuss existing and future cooperation with the DFC, and how to continue attracting investments to the country.

PM Garibashvili noted the important role of the DFC, which has been one of the main financial institutions working in Georgia since the 1990s, in “strengthening” the financial sector of Georgia.

The meeting was also attended by Economy Minister Levan Davitashvili, Finance Minister Lasha Khutsishvili, U.S. Deputy Chief of Mission Ryan Harris, and DFC Delegation Member Naz El-Khatib, among others.

In Tbilisi, Nathan also signed an agreement with Gazelle Finance, an impact investment firm focused on Georgia and Armenia, to provide “technical assistance” to Ukrainian firms relocating or expanding in Georgia as a result of the Russian invasion of Ukraine. Nathan said the memorandum will “enable financial support” for Ukrainian businesses which is key for them to survive the war and go back to “rebuild the economy.”

The DFC CEO 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.