The Bank of Georgia and the Regional Small and Medium Business Development Project (RSMEDP) have signed a memorandum of cooperation to help increase access to finance for small and medium-sized enterprises (SMEs) in Georgia. The RSMEDP project is funded by the Swiss Agency for Development and Cooperation and implemented by a consortium of Swisscontact, Mercy Corps, and Springfield Center.
As a business-supporting bank, the Bank of Georgia is committed to encouraging and implementing projects that support SMEs. Under the partnership, the Bank of Georgia and RSMEDP will work together to increase financial availability for entrepreneurs in the dairy farming and beekeeping sectors in the regions of Adjara and Imereti. The two organizations will help entrepreneurs to organize their reports, making it easier for them to attract financial resources for future development.
The project will initially involve 60 entrepreneurs, who will benefit from non-financial services and business consulting tailored to their specific needs. By providing access to financial resources, the project aims to support the effective operation of entrepreneurs and promote economic growth in the region.
"The partnership of the Bank of Georgia and RSMEDP serves the constant priority of the bank, which is the support of small and medium-sized businesses, especially in agro-management. This is a very important project not only for the regions of Adjara and Imereti but also for the field of dairy farming and beekeeping, as well as for the country as a whole," said Zurab Masurashvili, Head of the Small and Medium Business Department of the Bank of Georgia.
The RSMEDP project is pleased to cooperate with the Bank of Georgia in its efforts to support SMEs. "Access to financial resources is essential for the effective operation of entrepreneurs and economic growth. We are confident that our partnership will contribute to the implementation of the goals of the SDC program in the South Caucasus, which is focused on sustainable economic development and the growth of incomes and employment of small and medium-sized businesses in the regions of Georgia," said Richard Rose, the head of the project for the development of small and medium-sized businesses in the regions.
In conclusion, the partnership between the Bank of Georgia and RSMEDP is a step towards supporting SMEs in Georgia and promoting economic growth in the region. By providing access to financial resources and tailored non-financial services, the project aims to help entrepreneurs in the dairy farming and beekeeping sectors in the regions of Adjara and Imereti to expand their future activities and contribute to the sustainable economic development of Georgia.