More Transparency Needed in the Partnership Fund
JSC Partnership Fund is a state investment fund - a 100% of its shares are owned by the Georgian state. For this reason, the efficiency and transparency of its projects is especially important. 2014 was the first time Transparency International Georgia looked into the projects that had been implemented by the Fund at the time. This time, we examine the Fund’s newer projects and their investors.
At the initial stages of this research, TI Georgia requested information from the Partnership Fund about its completed projects. However, the Fund refused to disclose this information. Our research team was able to collect the required data from individual employees of the Fund. After we sending a draft of this document to the Partnership Fund for feedback, the Fund expressed readiness to provide us with the required information; however not all of our questions were answered.
As a result, in addition to information provided by the Partnership Fund this research is also based on various other sources, including the founders and managers of co-investor companies and their public procurement record.