Georgia Boosts Financial Inclusion, Transparency With EU, World Bank

Source: Mirage

The European Union (EU) and the World Bank concluded that the Georgia Financial Inclusion and Accountability (FIA) Project has helped Georgia to advance ambitious second-generation reforms aimed at boosting private sector development and enhancing financial inclusion. The EUR 4 million project supported an enabling framework for capital and insurance market development, improved financial infrastructure and responsible financial inclusion, and promoted better corporate and State-Owned Enterprise (SOE) governance and reporting.

These reforms are expected to benefit both individuals and companies through increased access to financial products such as credit and digital payments, as well as improved consumer protection supervision. The improved policy environment and infrastructure for digital financial services will help to ensure that financial innovations in the market can be more safely delivered for broader consumer use.