FITD: Four companies have public office holders in ownership structure

Four out of 77 companies to be funded after a call of the Economic Growth Plan have declared that their ownership structure consists of a public office holder or a family member, the Fund for Innovations and Technology Development said.

Investments projects of the four companies that have won funding of the first call of the Economic Growth Plan – Third Pillar, will be reconsidered by the committee for approving investments in line with the selection criteria, the Fund said in a statement.

The remaining companies of the first investment wave whose ownership structure is not consisted of a public office holder or a family member are concluding deals for realization of their investment projects.

“The Fund for Innovations and Technology Development on July 24 called on the 77 companies applying for funds to declare whether their ownership structure involves a public office holder of a member of immediate family. After the 15-day deadline expired, four companies submitted declarations,” it said in a statement.