The United States Agency for International Development has allocated a grant of $220,000 for supporting financial market development in Georgia, the national bank of Georgia reports.
The two-year programme aims to provide necessary financial support for the implementation of activities planned by the Georgian Financial Markets Treasuries Association to promote development of the domestic financial markets.
“A developed financial market provides businesses with new opportunities to attract capital”, noted Natalia Beruashvili, head of USAID’s Economic Governance Programme, while NBG governor Koba Gvenetadze added that “developed financial markets mean more effective distribution of financial resources in productive investments; it means faster, stable and sustainable economic growth”.
Gvenetadze said he hoped cooperation between the USAID and the Association would create “a good platform” for mutual cooperation between the private and public sectors and make “a positive contribution” to strengthening financial stability in Georgia. (Agenda/Business World Magazine)
