Georgia's micro-financing sector is looking for a way out of the crisis caused by the novel coronavirus pandemic.
As Chairman of the Supervisory Board of Microfinance Organizations, Archil Bakuradze said, the micro-financing sector is gradually developing.
He also claimed that consumer demand has slightly grown than it was in 2019.
Bakuradze assessed 2019 as a year full of problems, adding the future depends on the government's economic policy.
"The epidemic still persists, but the sector is developing," he said.
"Naturally, the pandemic caused problems. We deferred loans for three months. Now we help them individually and introduced additional benefits for a certain group, as the banking sector did. The main emphasis is on small and medium-sized businesses,'' Bakuradze stated.
In his words, Georgia responded to the pandemic, and the economy is returning to its usual regime.
Notably, the number of microfinance organizations Georgia reaches 43.
Маri Chitaia
News Author