South Caucasus’ first gender bond to support women-owned businesses
The first gender bond in the South Caucasus region is being launched in Georgia to support women-owned businesses with $7 million support of the Asian Development Bank. Photo: Nino Alavidze/Agenda.ge
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The first gender bond in the South Caucasus region is being launched in Georgia to support women-owned businesses with $7 million support of the Asian Development Bank, the ADB announced on Monday.
The Bank said it was investing in a two-year local currency gender bond issuance by the local microfinance organisation Crystal to finance women-owned micro, small and medium-sized enterprises in the country.
It is the first certified gender bond issuance in the South Caucasus and in the Georgian Stock Exchange", the ADB said, explaining the role of gender bonds as social bonds issued to enhance gender equality and women's empowerment.
The total bond issuance amounts to ₾25 million ($9.38mln), with ADB as the anchor investor and the Bank of Georgia as co-investor with a subscription of ₾6.25 million ($2.35mln).
Earlier this month, the European Bank for Reconstruction and Development announced a $16 million loan to Georgia’s Credo Bank to support local micro, small and medium-sized companies and women-led firms in the country.
The European Bank for Reconstruction and Development will assign a $16 million loan, backed by the European Union and Sweden, to Georgia’s Credo Bank to support local micro, small and medium-sized companies and women-led firms in the country, the Bank announced on Tuesday.
Business leaders’ Federation Women For Tomorrow on Saturday announced that the public competition for girls to take a 6-week free computer science course had ended, with the Federation selecting the best 25 participants from 3,500 applicants.
The involvement of women in economic activities, especially in the field of information technology, is one of the priorities of the Economy Ministry, Irakli Nadareishvili, the Deputy Economy Minister said on Tuesday at the official launch of the new partnership between the United States Agency for International Development and the Business Technology University.
The United States Agency for International Development and Visa are starting a new partnership aiming at supporting the strengthening of Georgian-based small and medium-sized businesses and the digitisation of their activities.
Georgian Deputy Economy Minister Irakli Nadareishvili on Wednesday said increasing the effectiveness of the small and medium-sized business sector was a “priority direction” of the Georgian Government’s economic policy.
Georgian Finance Minister Lasha Khutsishvili on Tuesday reviewed the Government’s cooperation with the Asian Development Bank and projects supported by the ADB in the public sector of Georgia in a meeting with its officials.
The second annual Tbilisi Women's International Conference is taking place in Georgia’s capital, with women leaders from around the world discussing conflicts, peace and security at the initiative of Georgian President Salome Zourabichvili.
The European Bank for Reconstruction and Development has granted a $20 million loan to TBC Bank, one of Georgia’s largest banks, for women-led enterprises outside the capital city of Tbilisi.