USAID and Visa starting a new partnership aiming at supporting SME Development and Strengthening Digital Ecosystem in Georgia
November 4, 2022, 10:15am, HotelPullmanTbilisi – the USAID Economic Security Program and Visa signed a memorandum of understanding for starting a new partnership aiming at supporting the strengthening of small and medium-sized businesses and the digitization of their activities, inclusive economic growth and extension of digital capabilities and access for citizens.
As part of the framework of cooperation, the USAID Economic Security Program and Visa will develop and implement joint programs that will focus on digital transformation, enhancement of digital literacy with specific focus on micro and small entrepreneurs, as well as on the economic empowerment of women and the integration of vulnerable groups.
“We are delighted to launch cooperation between the USAID Economic Security Program and Visa to facilitate the strengthening and development of the country’s digital economy. Visa has global and long-standing experience in the digitalization of the economy, economic empowerment of women and support of financial technology and E-Commerce, all of which are also core values of USAID. The partnership will enable Georgian companies to implement smart digital solutions to achieve development goals and connect with the international market,” Mark McCord, Chief of Party of the USAID Economic Security Program said.
„Today we are taking the partnership between Visa and the USAID Economic Security Program to a new level, to drive Georgia to the digital future. The expertise of both Visa and USAID Program will enable us to facilitate the digitalization of the country’s economy. For years Visa has been actively cooperating with the Government of Georgia, banks, financial institutions and donor organizations to assist the country’s advancement in terms of contactless penetrations worldwide. Strong multicultural organizations such as Visa and USAID play significant roles in bringing communities together and making progress, so I truly believe that our cooperation with USAID will contributes to Georgia’s economic advancement and bring value in coordination to your beautiful country, Georgia,“ Salvador Perez-Galindo, Senior Vice President, Head of Government Engagement for Visa CEMEA stated.
“We at Visa are extremely honoured to sign Memorandum of Understanding with USAID Economic Security Program and are looking forward to our fruitful collaboration in various fields. The document envisages four strategic directions, namely women entrepreneurs’ economic empowerment, SME development and digitalization, FinTech and E-Commerce. I truly believe that the deepened partnership would enable us to further support and achieve a long-term positive effect of our mutual work for society,” Diana Kiguradze, Visa Country Manager for the Caucasus region said.
The partnership between the USAID Economic Security Program and Visa will facilitate the extension of E-Commerce, financial inclusion and transactions, positioning Georgia as a regional hub and a safe place for investment.
About USAID in Georgia: USAID is the world's premier international development agency and a catalytic actor driving development results. Over 30 years of partnership with Georgia, USAID has supported the country’s transformation into a developing democracy that is increasingly integrated into Western political, security, and economic institutions. Today, more than 35 USAID programs strengthen Georgia's resilience to malign influence, consolidate democratic gains through enhanced citizen responsive governance, and enable high-value employment through increased economic growth. For more information, please visit: https://www.usaid.gov/georgia
About the USAID Economic Security Program: a 5-year $23 million project funded by the United States Agency for International Development (USAID) and implemented by DAI Global. The program is aimed at accelerating the broad-based growth of sectors outside of agriculture that show strong potential to create jobs, generate investment, and increase micro, small, and medium enterprise (MSME) revenues. For more information, please visit: https://www.facebook.com/EconSecProgram
Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge