Giorgi Magradze's Contact Details

Giorgi Magradze's Company Details

Municipal Development Fund of Georgia - საქართველოს მუნიციპალური განვითარების ფონდი

Tbilisi, Tbilisi, Georgia • 94 Employees
Investment Management

The Municipal Development Fund of Georgia (MDF) was established on 7th of June of 1997, under the "State Program for the Development of the Municipal Sector". It is a legal entity of public law. The Fund extended its activities countrywide and has materially benefited to development of the municipal infrastructure in the country by assisting municipalities in preparation and implementation of the investment projects.The objectives of the Fund are as follows: to support strengthening institutional and financial capacity of local government units, investing financial resources in local infrastructure and services, improving on sustainable basis the primary economic and social services for the local population (communities), developing renewable energy (midget power plants and geothermal) sources, creating sustainable economic basis for refugees, rehabilitating drainage systems, provision of low-interest loans to legal entities and physical persons of Georgia in the framework of the Government Program, Technical Assistance for Foreign and Georgian physical bodies and legal entities for business development in Georgia, liquidation of damage caused to the population and infrastructure during the conflicts in Georgia.The MDF is mobilizing funds from international financial institutions, donor agencies, central as well as local governments, and making them available for investments in the regional and municipal infrastructure and services. The Fund also assists the Local Self-governments in management optimization and introducing international experience into the local self-government field. The Fund constitutes an additional source of funding for financing of projects to be implemented under the responsibility of the Municipalities. Its structure perfectly meets the demands of Local Self-governments, which lack access to management expertise and financial market.