BAKU, Azerbaijan, Oct. 29
By Maryana Akhmedova – Trend:
Switzerland has launched a new initiative aimed at supporting the development of rural SMEs in Georgia, Trend reports via Georgian media.
The Swiss Agency for Development and Cooperation intends to further focus on priorities of the Government of Georgia, responding to the SME Development Strategy 2021-2025, to the post COVID-19 pandemic recovery plan, as well as to the Agriculture and Rural Development Strategy of Georgia 2021-2027.
“The new project will support 1,500 rural SMEs (of which 450 are owned by women, 75 – by ethnic minorities, and 500 – by small farmers). Each of them will benefit from improved advisory, financial services and technical and operational practices, and raised awareness of financial/investment opportunities,” Danielle Meuwly, Regional Director of Swiss Agency for Development and Cooperation, said.
“In total, 12,600 local women and men will benefit from increased or more stable incomes,” she added.
“Swisscontact, Mercy Corps Europe, and the Springfield Center for Business in Development have come up with a four-year project which is aligned with Switzerland’s International Cooperation Program for the South Caucasus (2022-2025), aiming towards rural business diversification and job creation,” Richard Rose, Team Leader of Rural SMEs Development Project, noted.
The aim of the project is to improve the financial management and skills, improve technology, and develop marketing skills.
Commercial banks will also be actively engaged in financing rural SMEs, as well as in communicating their funding requirements to the potential borrowers.
The project will also closely work with the EIB partner banks which intend to expand lending to SMEs.
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