US to Allocate $ 19 Million to Support Small Business in Georgia

"The USAID Financial Innovation Program aims to support the deepening of the financial market (Georgia. -

) outside the banking sector and to establish links between Georgian business and diversified investment capital," the application says.

It is planned to allocate $ 19 million for the implementation of the program.

Potential executors of the project will have to expand access for small businesses to various types of capital, in addition to bank loans, as well as attract Georgian and international business consultants who will help companies obtain public or private funding.

In addition, the program will develop initiatives that, among other things, will strengthen the regulatory framework and institutions for financial intermediation.

To do this, contractors need to interact with the private sector and key government agencies in Georgia.

The American agency expects that as a result of the project, a dynamic financial market will be formed in the country that meets the needs of the private sector.

Earlier it became known about USAID's plans to allocate up to $ 10 million for a project to train youth in Georgia.