From : Natia Turnava <nturnava@moesd.gov.ge>
To : olivier rousseau <olivierjpnrousseau@yahoo.fr>
Subject : RE: TA confirmation request
Cc : Oleksiy A. Sluchynskyy <osluchynskyy@worldbank.org>; Angela Prigozhina <aprigozhina@worldbank.org>; Jean-Frederic Paulsen <jean-frederic@paulsen.ge>; David Tsiklauri <dtsiko@gmail.com>; Michael Ridley <michael@ridley.eu>; Timo Viherkenttä <timo.viherkentta@gmail.com>; i.matchavariani@mof.ge; etikaradze@moh.gov.ge; etikaradze@moh.gov.ge
Received On : 23.10.2019 17:03
Attachments :
Dear Olivier, Sorry for the late response, we were terribly busy these days with Tbilisi International Silk Road Forum. First of all, I would like to issue my formal consent regarding a Technical Assistance provision. I am glad to hear that with a help of WB the Investment Board will be able to set up the investment office soon and you can rely on my personal support in this process. Secondly, please find enclosed the Legal Opinion prepared by the legal team of MoESD regarding possible Conflict of Interest in case of Mr. Aleksi Khazaradze , the CIO candidate. Looking forward to hear from you soon, Kind Regards, Natia Natia Turnava Minister Ministry of Economy and Sustainable Development of Georgia Georgia, Tbilisi 0105 2; Sanapiro Str., Tel: +995 032 2991025 Email: nturnava@moesd.gov.ge www.moesd.gov.ge -----Original Message----- From: olivier rousseau Sent: Friday, October 18, 2019 13:15 To: Natia Turnava ; i.matchavariani@mof.ge; etikaradze@moh.gov.ge; etikaradze@moh.gov.ge Cc: Oleksiy A. Sluchynskyy ; Angela Prigozhina ; Jean-Frederic Paulsen ; David Tsiklauri ; Michael Ridley ; Timo Viherkenttä Subject: TA confirmation request Dear Ministers, I am writing to you on behalf of the Investment Board of the Pension Agency to request formal approval of a Technical Assistance provision by the World Bank to help set up the investment office as per our decision minuted at the latest IB meeting and the attached consultant Terms of Reference subsequently discussed and agreed between the World Bank and the IB. You will appreciate that this is an unusual request and that in normal conditions under the current institutional framework the agreement to receive TA from the World Bank would have been signed by the director of the Pension Agency. However it has not been possible to obtain this signature and with no prospect of this happening within any reasonable time frame we are now turning to you because we are eager to see a timely resolution of this issue. For your convenience I am attaching a thread of e-mail exchanges relating to this issue. I am copying this message to Ms Angela Prigozhina and Oleksij Sluchynskyy from the World Bank and my colleagues from the IB. Best regards, Olivier Rousseau chair of the Investment Board of the Pension Agency From: Oleksiy A. Sluchynskyy Sent: 10 October 2019 12:45 To: olivier rousseau Cc: Levan Surguladze ; David Tsiklauri ; Jean-Frederic Paulsen ; levansurg@gmail.com Subject: Re: Investment Operations consultant Dear Levan, I hope you are recovering well. This is to follow up on my earlier request and see if you had any objections or suggestions for this consultancy. I know, the Investment Board is eager to proceed with this task asap. Kind regards Alexi Sent from my iPhone On Oct 4, 2019, at 7:21 PM, olivier rousseau wrote: [External] Dear Oleksij, I have been in contact with Levan about this issue which we all want urgently dealt with but he has been at his home sick since Wednesday. However I will send your message to his personal email address. Best regards, Olivier Le vendredi 4 octobre 2019 à 16:03:52 UTC+2, Oleksiy A. Sluchynskyy a écrit : Dear Levan, This is a kind reminder to please review this consultancy. To effectively utilize the reminder of the TA funds by end of November we would need to proceed asap. Many thanks, Alexi Sent from my iPhone From: olivier rousseau Sent: 01 October 2019 17:31 To: Levan Surguladze ; Oleksiy A. Sluchynskyy Cc: David Tsiklauri ; Jean-Frederic Paulsen ; Angela Prigozhina Subject: Re: Investment Operations consultant Dear Oleksiy, Dear Levan, As already mentioned in our previous exchanges the Investment Board would like this assignment with Irakli Elashvili to start as soon as possible. We are grateful to the World Bank for the provision of this assistance to the Pension Agency in the field of investment activities. Kind regards, Olivier On Oct 1, 2019, at 1:03 AM, Oleksiy A. Sluchynskyy wrote: Dear Levan, In line with our conversation in Tbilisi and as per the subsequent confirmation during the Investment Board meeting, as documented in the Minutes of the Meeting, we have initiated the process of bringing on board an Investment Operations consultant to work with the Investment Board and the CIO (acting and to be hired) on setting up operations of the Investment Office and elaborating investable options available in Georgia. This is to let you know that we have reviewed and agreed with the TOR (attached) and, in close coordination with the Investment Board, confirmed selection and availability of Mr. Irakli Elashvili (CV attached) to perform tasks as detailed in the TOR, given his extensive experience in and in-depth exposure, in senior management positions, to both developed and emerging Georgian financial markets and corporate environments. To complete this process, kindly let us know if you had any objection to engaging Irakli on this task. Many thanks, Alexi