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EBRD to help train Georgian trainers in agri-lending
The EBRD has launched an initiative to support the expansion of agri-lending in Georgia by training local Trainers who will subsequently deliver an agri-lending course at the Georgian State Agricultural University (GSAU).
This facility is in line with EBRD’s initiative to support agri-lending through local partner banks.
The Bank of Georgia, having successfully introduced new agri-lending products, agreed to sponsor a "Chair of Agricultural Lending" at the University.
To date, Georgian financial intermediaries focus on the more populated urban areas. As a result, large sections of the rural population, which in the main rely on agricultural activities, have little or no access to financial services. By supporting the capacity building of agri-lending in Georgia, the EBRD will aid the development of the human capital in this very crucial for Georgia sector.
"We welcome this EBRD’s initiative, as the lack of agri-lending experts was a major obstacle for the expansion of our rural agri-lending activities", said Mr. Vaja Menabde, Director of Micro Lending Department at the Bank of Georgia.
The initiative is being funded by the EBRD multi-donor Early Transition Countries Technical Fund which contributing $61,000. 12 trainers have been fully trained over a period of four months during 2007 which means that GSAU course can be delivered to agricultural students on a regular basis commencing with the new academic year in September 2007, and the onset of the peak agricultural lending period.
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