Delegation of the European Union to Georgia

Economic and Business Development in Georgia

03/11/2018 - 21:00
Private Sector Development

2017-2023

EU contribution EUR 47 650 000

 

Support for economic growth has emerged as a crucial issue in Georgia. Structural constraints and incomplete economic reforms continue to make it difficult for Georgian businesses, especially SMEs, to efficiently operate and scale up.

 

The overall objective of the programme is to foster socio-economic development in Georgia and its regions, with the specific objectives to make litigations faster and fairer for businesses, to modernise the financial infrastructure and to promote market-oriented and innovative business models for job creation.

 

The specific objectives are addressed through three thematic components: (1) fairer and faster litigations in commercial matters; (2) modernised financial infrastructure with expected results such as capital market development, responsible financial inclusion and alternative financing, better financial information and enhanced insurance systems; and (3) greater business sophistication with expected results such as strengthened policy framework to facilitate the development of SME, clusters and incubators, development and functioning of business accelerators/incubator, serving target regions and sectors; and improved delivery and quality of public services to businesses.

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