Service Providers

*THIS PROGRAM HAS CLOSED*. The principle objective of the GMSE Project is to stabilize and strengthen microfinance institutions in Georgia. To accomplish this objective, the project will (a) award up to $5 million in grants to Georgian microfinance institutions based on best practices, and (b) provide technical assistance to microfinance institutions in order to ensure their long-term stability and sustainability. Special effort will be made to ensure that rural and women-owned enterprises benefit from GMSE’s work. GMSE will be implemented through seven interrelated tasks. They are:

Task 1: Promote the Unambiguous Legal Status and Tax Treatment of Non-Bank MFIs -GMSE will establish a Policy Coordinating Body and it will work toward solving legal and tax problems affecting the long-term viability of non-bank MFIs.

Task 2: Increase Operational and Financial Sustainability of MFIs -GMSE will assist microfinance institutions that are committed to achieving both operational and financial sustainability.

Task 3: Develop Partnerships Between Commercial Banks and Non-Bank MFIs
GMSE will formally link its partner MFIs with private commercial banks, e.g. through training, disbursements, collections or related financial-service arrangements.

Task 4: Increase the Institutional Stability of MFIs -GMSE will deliver capacity to Georgian training providers so they can deliver microfinance best practices to MFI clientele. An accreditation system will be established that recognizes the experience and skills of microfinance practitioners.

Task 5: Develop Financial and Market Data -GMSE will implement a benchmarking and performance monitoring system intended to enhance the accountability, transparency and performance of GMSE partner MFIs. In addition, a Georgia-wide survey of supply and demand for financial services will be conducted as well as studies targeting specific market needs. The Survey results will provide data necessary to design demand-driven products and services.

Task 6: Develop a Public Information Program to Promote Sustainable Microfinance -GMSE will undertake a media campaign that supports the projects’ core activities. It will also sponsor seminars and workshops regarding the importance of financial services for business development.

Task 7: Design, Launch, Manage and Monitor the Credit Innovation Grant Program (CIGP) -GMSE will promote the long-run commercial viability, reach and impact of bank/non-bank financial institutions through the application of the CIGP, a $5 million grant facility.














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