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Government planning to enter investment banking market

25.09.2006

The Parliament discussed a draft law on the Development Fund. This is a public body corporate investing into equities of start-ups active in high-tech, bio-tech and similar science-based and export-oriented activities. The DF has a council, management board and financial committee. The latter should consist of opinion leaders, investments will be made based on their recommendations and on a strategy approved by the council. The Government will transfer 3% of Estonian Telecom shares to the DF as initial assets to be managed, monetarized and invested.

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