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Sovereign Wealth Funds Briefing - Categorized | Investment

Rakia plans $2bln Georgia investment

Posted on 23 February 2009

From Gulf-daily-news.com: UAE-based RAK Investment Authority (Rakia) plans to invest about $2 billion in Georgia over the next five years despite the global downturn and Georgia’s war with Russia last year, the head of its local unit said.

A brief war between Georgia and Russia in August last year over the break-away region of South Ossetia scared off many potential investors from the country but Rakia, a sovereign wealth fund, says it plans to fully carry out all investment projects….. Full Article: Source


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