Economy
Posted: 6 months ago

EU's Project to Support Enhancement of Financial Inclusion and Accountability in Georgia

In May, the EU announced a pledge of €4.5 million for Georgia which will be used to support private sector development, boost the growth of small and medium-sized enterprises (SMEs), and enhance productivity and financial inclusion.

This work will be carried out through the EU’s Financial Inclusion and Accountability project, which started in 2019 and will be implemented by the World Bank until 2022. The project is designed to support ambitious second-generation reforms implemented by the authorities of the country.

The project will be implemented in close cooperation with the National Bank of Georgia, Ministry of Economy and Sustainable Development, Ministry of Finance, Insurance State Supervision Service of Georgia, State Service for Accounting, Reporting and Auditing Supervision, and other private and public stakeholders.

The project is part of the World Bank Group’s support to Georgia under the Country Partnership Framework for 2019–2022 and the EU’s Single Support Framework 2017–2020 for Georgia.