PF’s Corporate Governance structure is composed of: Supervisory Board, Management Board and Investment Board.

The supervisory board is chaired by Prime Minister of Georgia and includes four government and four private sector representatives. Namely: Ministers of Economy and Sustainable development, Finance, Energy and Justice; CEOs of TBC Bank, Bank of Georgia and Liberty Bank.

The mandate of the Supervisory Board:

  • Control over the management of the fund (executive body)
  • Control and inspection of the fund’s financial documentation
  • Assigning and depriving of representative and management authority to the Management Board members, defining level of authorization.
  • Final decision on investment project financing
  • Monitoring of investment project implementation process
  • Distribution of authorities in companies established through participation of the fund, decision on type and size participation in investment projects
  • Decision on alienation of shares in ownership of the fund upon agreement with the government of Georgia

Investment Board is a consultation body of the Partnership Fund with the mandate to evaluate the efficiency and sustainability of investment projects, elaborate proposals and recommendation for review of the Supervisory Board. The Investment Board affiliates experts. Investment Board is staffed upon approval of the Supervisory Board.

Management Board is chaired by the CEO of Partnership Fund, affiliates deputy CEOs and senior management.

The mandate of the Management Board:

  • Elaborate and present investment projects to the Supervisory Board
  • Manage approved projects
  • Execute authority of partner/shareholder in enterprises established/operating with participation of the fund
  • By approval of Supervisory Board to establish daughter companies for implementation of approved investment projects