Georgia’s Microfinance Sector Outpaces Peers in Central Asia and Europe, Says Maia Kobalia
Georgia’s microfinance and microbanking sector is ahead of many countries, including those in Central Asia and Europe, according to Maia Kobalia, moderator of the upcoming MFC International Conference and Head of Environmental and Social Responsibility at Microfinance Organization Crystal.
Speaking on the “Business Partner” program, Kobalia highlighted Georgia’s strong performance and regulatory reforms, which have positioned the country as a regional leader and made it the host of the 27th MFC International Conference, to be held in Tbilisi on May 27–29.
“In recent years, the reforms implemented by the National Bank of Georgia in the microfinance sector have drawn attention from international organizations,” she said. “That’s why this year’s MFC International Conference, the largest of its kind in the region, will be held in Georgia and opened by NBG President Natia Turnava.”
Themed “Changes, Shocks and Solutions: Microfinance in the Shadow of Geopolitics,” the conference will explore global and regional developments affecting inclusive finance. Discussions will cover topics including environmental and social risks, green and gender financing, digital transformation, and support for vulnerable groups such as women, youth, migrants, and rural communities.
Kobalia emphasized the vital role of microfinance institutions in serving clients excluded from traditional banking services due to high collateral demands or lack of credit history.
“In Georgia, the sector comprises 30 microfinance institutions with ₾700 million in capital and ₾2 billion in assets, employing around 4,000 people,” she noted. “Crystal alone serves 200,000 clients through 50 branches and employs 1,200 staff. These people support micro and small entrepreneurs—creators of the country’s wealth. We are not just lenders; we are their partners.”
The conference is expected to host around 500 delegates from 35 countries, primarily from Europe and Central Asia, providing networking opportunities for global financial institutions, investment funds, and development agencies.
The event is supported by the National Bank of Georgia and sponsored by leading institutions including Crystal, Fimple, Finance Ltd, Mastercard, Credo Bank, responsAbility Investments AG, and others.
The Microfinance Centre (MFC) is a network of 140 member organizations from 36 countries across Europe and Central Asia, serving over 2 million low-income clients. It promotes responsible, inclusive, and sustainable finance through advocacy, ESG, green finance, and capacity building.
