In accordance with the Law on Development Fund of Georgia JSC, the Fund has published its separate and consolidated financial statements for the year 2024. The financial statements were audited by the international audit firm Nexia.
According to the auditor’s report, the Fund recorded a net profit of GEL 35.8 million for the year. Results from operating activities was also positive, with operating profit amounting to GEL 23 million.
As for the consolidated results, in 2024 Development Fund of Georgia generated revenue exceeding GEL 41 mln, while the consolidated net result reflected a loss of GEL 10.4 mln. This loss was attributable to the negative performance of the Fund’s subsidiary, Aerostructure Technologies Cyclone JSC (ATC). ATC is a joint venture between the Fund and the Israeli company Elbit Systems – Cyclone, which is also responsible for its operational management.
The Fund’s mission is to attract domestic and foreign direct investments into strategic economic sectors in order to unlock Georgia’s investment potential, thereby contributing to economic diversification and the development of key industries.
Development Fund of Georgia continues to assess and develop investment projects. Following recent reforms and new charter, the Fund has identified priority areas for financing, which include high-technology and eco-friendly production, innovative manufacturing and start-ups, as well as export-oriented industries.
