BAKU, Azerbaijan, Feb.4
By Tamilla Mammadova – Trend:
European Fund for Southeast Europe (EFSE) continues to focus on micro and small enterprises (MSEs) as a crucial engine of income generation and employment in Georgia, the EFSE told Trend.
"In fact, around 56 percent of Georgia’s GDP is fuelled by the MSE sector," the EFSE noted.
Within this sector, there are some key focus areas that particularly attract our attention, the source noted.
"For example, EFSE is keenly interested in the potential for technological innovations – such as financial technology, or “fintech” – to increase financial inclusion for underserved groups, as well as to enhance the ability of financial institutions to serve MSEs," the fund said.
According to the EFSE, the agricultural sector in Georgia is also an important part of EFSE’s lending portfolio.
"We frequently work with local financial institutions to create tailor-made lending products for farmers and rural businesses," the source added.
The European Fund for Southeast Europe aims to foster economic development and prosperity in the Southeast Europe region and in the European Eastern Neighbourhood region through the sustainable provision of additional development finance, notably to micro and small enterprises and private households, via qualified financial institutions.
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