EFSE to step up local currency lending in rural Georgia

EFSE to step up local currency lending in rural Georgia

January 12, 2022

The European Fund for Southeast Europe (EFSE) has committed to provide US $2.5 million equivalent in Georgian lari (GEL) to its new partner, microfinance organisation Lazika Capital. This funding will expand access to finance in local currency for underserved micro and small size enterprises (MSEs), including individual entrepreneurs, farmers and agricultural producers in rural Georgia.

By obtaining financing in Georgian lari, micro and small enterprises can fund their growth and increase their business resilience, viability and stability in the longer run, while being protected from the exchange rate fluctuations.

EFSE Board Chairperson Klaus Müller said that this investment will expand the capacities of Lazika Capital to finance the underserved groups, thus contributing to furthering EFSE’s mission to promote economic prosperity in the region.”

Find out more

Press release




Interested in the latest news and opportunities?

This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a B&S Europe-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.

The information on this site is subject to a Disclaimer and Protection of personal data.
© European Union,