Enterprise Georgia launching new programme to support capital market development

Enterprise Georgia, the state agency promoting entrepreneurship, investment and exports, on Monday said it was launching a new programme to improve access to finance for domestic enterprises by promoting the capital market, in particular by stimulating the issuance of securities, Azernews reports, citing Agenda.

Mikheil Khidureli, the CEO of the Agency, held a working meeting earlier today with representatives of the Ministry of Economy and brokerage companies to discuss the new Capital Market Support Programme that would be implemented together with the USAID’s Financial Innovation Program.

Khidureli said the Agency was moving to a “completely new stage” by offering the Programme with its two components - co-financing and technical support.

The former includes the co-financing of costs of credit rating and successful placement fees, while technical support will offer training and financing of consulting services.

The Agency said it would help companies issue bonds in 2024.

It is planned to support up to 15 beneficiaries who will attract up to $150 million additional investment resources to the stock market”, the body said.

The Agency added it would implement “a number of measures” to contribute to the development of “alternative financing mechanisms” as part of the efforts to develop the capital market in the country.