ADB, JICA address COVID-19 economic impact in Georgia

Georgia Materials 9 December 2021 18:18 (UTC +04:00)
ADB, JICA address COVID-19 economic impact in Georgia

BAKU, Azerbaijan, Dec. 9

By Maryana Akhmedova – Trend:

Bank of Georgia received $200 million from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) for the support of micro, small and medium-sized businesses, Trend reports via the press service of the Bank.

The amount provided under the five-year contract is aimed to support access to financial resources for women-led enterprises and address economic challenges that emerged due to the COVID-19 pandemic.

Part of the resources will also be available in national currency (Georgian lari) and will make it possible to increase access to financing in highly demanding long-term local currency.

“The ADB is always committed to achieving greater financial inclusion, gender equality, job creation, and access to affordable financial services,” Ashok Lavasa, the ADB Vice President for Private Sector Operations and Public-Partnership, said.

“The provided funding will contribute to the sustainable economic growth of micro, small and medium-sized businesses and the social success of women in Georgia by improving access to financial services,” Shohei Hara, the Director-General of JICA Private Sector Partnership and Finance, said.

“I would like to thank ADB and JICA and express hope for further strengthening of cooperation,” Sulkhan Gvalia, the Deputy Chief Financial Officer of the Bank of Georgia, said.


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