Baku, Azerbaijan, July 30
By Tamilla Mammadova – Trend:
The EU will help the National Bank of Georgia (NBG) in the improvement of a financial monitoring mechanism with a new project, Trend reports via 1tv.ge.
The project’s budget is 1.75 million euro and will be carried out in accordance with the agenda of Georgia-EU Association Agreement.
According to NBG, the agenda requires revision of the banking regulatory framework with respect to regulation of the banking sector and supervision policy.
National Bank of Georgia is the central bank of Georgia. Its status is defined by the Constitution of Georgia.
Georgia's first central bank was established in 1919. In its current form the bank has existed since 1991. According to the Constitution of Georgia, it is independent of state control, and is tasked with ensuring price stability.
(1 EURO = 3.26 GEL on July 30)