Programmes

The project seeks to create sustainable financial intermediaries (FIs), as well as to improve the local financial sector's efficiency, effectiveness and transparency needed to facilitate the access to financing for enterprises. It provides assistance to FIs focusing on specific projects and clients, supports the application of internationally acceptable banking practices, and promotes competition in the region.  

Objectives

• Improving the efficiency, effectiveness and transparency of the financial sector, resulting in the provision of better access to financing for enterprises, particularly micro, small and medium enterprises (MSMEs);
• Creating successful and healthy institutions that finance the real economy operating on market principles and follow sound business practices, thus supporting sustainable financial intermediaries.

Beneficiaries

• Financial Intermediaries
• MSMEs

Activities

• Supporting institution-building programmes.
• Provision of credit advisory services.
• Facilitating trade finance advisory services.
• Developing management skills.
• Assisting with the launch of new financial products.
• Conducting IT assessment, development and implementation.

Results

Through to mid-2016, the project concerned eight different actions, ranging from trade finance workshops, improving internal audit and risk management practices, support to five Georgian banks in implementing the Georgian Agricultural Finance Facility (part of SME Finance Facility, Phase I) and SME credit advisory services in general. Regarding the trade finance workshops, 98% of the participants considered that the training was of benefit to them in their business activities.

Website

http://ec.europa.eu/europeaid/blending/financial-sector-institution-building-and-crisis-response_en