Acting National Bank Governor, microfinance institutions review achievements, challenges in sector
The officials noted the development of the microfinance sector would “significantly improve” the competitiveness of the financial sector of Georgia in general and expressed readiness to cooperate in increasing access to finances, which will contribute to the creation of additional jobs in the country. Photo via NBG
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The achievements and challenges in the microfinance sector were reviewed on Tuesday by Natia Turnava, the Acting Governor of the National Bank of Georgia and representatives of microfinance institutions, including the Georgian Microfinance Association.
At the meeting, the sides discussed the prospects for future cooperation, as well as the further refinement of the regulatory framework of the sector, the NBG said.
The officials noted the development of the microfinance sector would “significantly improve” the competitiveness of the financial sector of Georgia in general and expressed readiness to cooperate in increasing access to finances, which will contribute to the creation of additional jobs in the country.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Monday met Rolande Pryce, the World Bank Regional Director for the South Caucasus, to review implemented and prospective projects between the sides.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday said individuals would be able to take out loans of “any amount” in the currency of their income with the existing ₾200,000 ($74,358) limit set to be removed starting January 1, 2024.
The National Bank’s regulations for the financing of the development sector were reviewed on Saturday by Natia Turnava, the Acting President of the National Bank of Georgia and the representatives of local commercial banks and the Business Association of Georgia.
Natia Turnava, the Acting President of the National Bank of Georgia, on Friday met representatives from local commercial banks to discuss cooperation for ensuring more resource investment in the domestic economy and ensuring access to finance for bank customers.
The National Bank of Georgia on Monday said “high-level” international consultants had joined its team as advisers to help the Acting Governor Natia Turnava in efforts for developing the domestic financial market, implementing current and planned reforms in accordance with international standards, and “strengthen[ing] activities in various directions”.