Acting National Bank Governor, World Bank Regional Director discuss payment system introduction, capital market development
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. Photo: NBG
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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.
The National Bank said the meeting also discussed introduction of an instant payment system supported by the World Bank.
This system will make the payment system in Georgia much simpler and more accessible”, Turnava said, adding the meeting also reviewed “sustainable finance and capital market development”.
On her part, Pryce said the World Bank was working with Georgia’s central bank on “better utilisation of new opportunities and other credit operations” as part of its technical assistance project.
The World Bank on Wednesday said the Georgian economy had demonstrated “resilience” amid a rapidly changing external environment due to sound macroeconomic management, while the country faced challenges in creating high-quality jobs.
Georgian Agriculture Minister Otar Shamugia on Tuesday announced the launch of a $150 million project jointly financed by the Government of Georgia and the World Bank and aimed to benefit farmers and enterprises by enhancing irrigation services, land management and agricultural support.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Tuesday met heads of the Banking Association of Georgia and commercial banks operating in the country to discuss challenges in the financial sector and future plans.
Georgian Infrastructure Minister Irakli Karseladze and Agriculture Minister Otar Shamugia on Thursday held meetings with the newly appointed World Bank Regional Director for the South Caucasus Rolande Pryce, discussing cooperation.
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.
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”.
Georgian Economy Minister Levan Davitashvili on Wednesday said the development of the domestic banking sector was an “important step” towards turning Georgia into a “regional financial centre”.