On May 17, the Georgian government signed an agreement with the World Bank within the scope of which 85,000,000 Euros will be allocated to the country as a post-pandemic support of Micro, Small and Medium Enterprises (MSME)
The Prime Minister noted that the project envisages new, innovative systems to be established for express payments, thus benefiting enterprises by effectively gaining greater access to cash upon its implementation by the National Bank of Georgia (NBG).
“The Referred Agreement on Financial Assistance has resulted from successful negotiations between the World Bank and Ministry of Finance of Georgia. The Executive Board of the World Bank made a decision on May 11. Minister of Economy – Natia Turnava – was also actively engaged in the process.
“We receive very significant support from our donor countries and agencies to benefit the enterprises affected by the pandemic. I wish to express my gratitude to the World Bank and its Regional Director for South Caucasus for supporting the project.
“Enterprise Georgia – a legal entity of public law (LEPL) will be carrying out the oversight of the referred project.
“Development of small and medium enterprises (SME) is one of our key priorities and we will be designing other additional incentives to be presented in the near future,” PM Garibashvili stated.