Georgia, Tbilisi, March 11 / Trend N. Kirtskhalia /
The International Finance Corporation (IFC) helps Georgian commercial banks to increase financing to small- and medium-sized businesses, which, in turn, creates additional jobs in the country.
The IFC is working with the Austrian and Japanese governments to conduct trainings for bank employees from March 9 to 11, the IFC Tbilisi Office told Trend. The training program covers issues such as strategy and market segmentation, product design, credit risk management and management information systems.
"It was difficult for small and medium companies to get additional financing during the financial crisis, but they showed great stability in these conditions," Georgia's National Bank Vice President Otar Nadaraya said at the workshop.
He expressed confidence that the IFC trainings will allow Georgia's commercial banks to make financial resources more accessible for small- and medium-sized businesses, which will lead "to the creation of more jobs for the Georgian population."
Some 35 employees at 19 banks will pass the trainings. They were developed by a global banking operations program for small- and medium-sized businesses to help develop the sector.
"Small businesses need simple and flexible banking products, loans and deposits," IFC representative in the Caucasus Thomas Lubeck said during the workshop.
"These trainings will allow banks to integrate small and medium businesses into the customer base," he said.
The International Finance Corporation's investments in Georgia are $500 million.