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• Georgia: EU supports NASIRA Guarantee Programme for Small and Medium-Sized Businesses

  On 14 November, the Georgian financial institution Terabank and the Dutch entrepreneurship development bank FMO announced the first NASIRA risk-sharing programme in Georgia.

  The programme aims to increase financial resource access for micro-enterprises and SMEs operating in the country, and is funded by the European Commission and the Dutch Government.

  ‘NASIRA’ takes the form of a loan portfolio guarantee and supports financial institutions in increasing their lending activities for MSMEs, with a focus on underserved business segments, such as smallholder farmers and women-owned and youth-owned businesses. Often these clients have difficulty accessing finance due to higher associated credit risk and lack of collateral and/or historical track record.

  “Under its Economic and Investment Plan, the European Union expects to leverage up to €17 billion in public and private investments. The EU is delighted to see these guarantees delivered on the ground, accelerating one of our core flagships to support 80,000 SMEs in Georgia,” said Nicholas Cendrowicz, Head of Cooperation of the EU Delegation in Georgia.

  “Access to finance that also reaches under-represented economic actors elevates more people into economic activity and lends itself to a more inclusive economic growth for Georgia.” 

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  Press release

• EU and UN Showcase Success of EUR 5.1 Million Initiative for Private Sector Competitiveness in Georgia

  Partnership Sparks Entrepreneurship, Green Economy, and Economic Resilience

  TBILISI. 14 November 2023 – The European Union and the United Nations presented the accomplishments of their EUR 5.1 million initiative, "EU Innovative Action for Private Sector Competitiveness in Georgia". Over five years, from 2019 to 2023, this programme had a profound impact on the business development landscape in Georgia. It supported significant strides in advancing the circular economy, fostering robust business clusters, enhancing legislative frameworks, and boosting Georgian producers' presence in European markets.

  This landmark programme directly benefitted up to 100 small and medium-sized enterprises across the country and played a significant role in establishing and nurturing four business clusters, some of which have garnered international acclaim from the European Cluster Excellence Initiative. Furthermore, the programme created learning and development opportunities for over 1,500 entrepreneurs and farmers across Georgia, strengthening their business skills and increasing their prospects in the international marketplace. 

  With financial support from the European Union, the programme was implemented in close partnership with the Georgian Government and the private sector, with the active involvement of four UN agencies: the United Nations Development Programme (UNDP), the Food and Agriculture Organization (FAO), the United Nations Industrial Development Organization (UNIDO), and the International Organization for Migration (IOM).

  The results of this collaborative effort were celebrated at the event on 14 November, where distinguished speakers from the Government and the private sector highlighted its impact.

  "The EU’s Innovative Action for Private Sector Competitiveness in Georgia has unveiled various opportunities for the private sector, laying the foundation for ongoing economic progress. The European Union remains unwavering in its support for Georgia's private sector, actively promoting green and sustainable practices and cultivating the prospective growth of Georgia's business and industrial landscape," said Catalin Gherman, Deputy Head of Cooperation at the Delegation of the European Union to Georgia.

  Douglas Webb, UNDP Resident Representative a.i. in Georgia, noted that the private sector is the crucial player in safeguarding economic and social rights and achieving sustainable development for all.

  “Together with the European Union and UN agencies, UNDP is working hand in hand with small and medium-sized entrepreneurs across the country to support Georgia's transformative journey toward a strong, inclusive, and sustainable economy, focused on the best interests of people and the planet. Our support benefitted one of Georgia’s strongest clusters of packaging companies and producers, PMAG, which has increased its membership network to over 60 companies, excelled in digital transformation, introduced environment-friendly business practices, such as sustainable production and recycling, and gained international recognition from the European Cluster Excellence Initiative and the World Packaging Organization. From 2018 to 2022, these impressive transformations facilitated a more than two-fold increase in sales across the entire PMAG network," said Webb.

  “Under this project, FAO has supported the local production of saplings through the development of a legislative framework together with the National Food Agency and the Scientific Research Centre of Agriculture. We also supported around 20 nurseries by increasing their technical capacities and providing equipment. Moreover, FAO has trained up to 1000 producers on modern sustainable practices for agricultural production and facilitated access to markets for local products. All in all, the achievements of this project will greatly contribute to achieving a more sustainable agricultural production in terms of quantity, quality, and environmental impact, implementing good agricultural practices with EU standards, noted Javier Sanz Alvarez, the FAO Programme Coordinator.

  “UNIDO directly supported 36 SMEs and trained/coached up to 300 beneficiaries across different business sectors in Georgia. UNIDO helped producers overcome constraints related to production and quality management, allowing them to sustainably resume their business operations. Notably, one company obtained Good Distribution Practice (GDP) certification and gained access to the market. With UNIDO’s assistance, Georgian Marine Fishing and Biopharmaceutical Clusters managed to bring together different producers and through joint activities achieved the objectives, which would’ve been left unresolved without the assistance of the EU-funded project,” said Giorgi Andguladze, UNIDO National Project Coordinator.

  “Cultivating a dynamic synergy between the diaspora and local businesses, the International Organization for Migration has mapped the high-profile Georgian diaspora in the EU and globally. Through our extensive database, comprising approximately 4000 diaspora profiles, we have actively engaged with hundreds of individuals, exploring their skills, experience, and interests. Our overarching goal has been to establish robust connections between local businesses and the diaspora, facilitating the effective use of diaspora resources, knowledge, and ideas. This initiative has not only strengthened trade but also facilitated capacity building and driven collaborative initiatives. The diaspora's role as agents for local development was successfully pilot tested,” said Sanja Celebic Lukovac, IOM Chief of Mission.

  One of the programme's most notable achievements is the substantial support provided to business clusters in Georgia, increasing the opportunities for participating companies and entire business sectors to excel both nationally and globally. The European and the United Nations assisted four business clusters, each contributing to specific areas of Georgia's economy:

  1. Packaging Cluster – PMAG, the ECEI Bronze Label holder, full member of the World Packaging Organization (WPO). Supported by: UNDP.
  2. Seed and Seedlings Cluster, facilitating the National Seedling Certification System development, technical support for nurseries, farmers training and Farmers' Markets. Supported by: FAO.
  3. Georgian Biopharmaceutical Cluster. Supported by: UNIDO.
  4. Marine Fishing Cluster. Supported by: UNIDO.

  Furthermore, the programme helped strengthen public-private partnerships across various areas of business development, including waste management. In 2023, regional and local authorities in both western and eastern Georgia reiterated their commitment to this cause by signing declarations of intent with packaging companies and international partners aimed at enhancing waste management practices and promoting separation and recycling at the municipal level.

  The programme also played a pivotal role in creating strong connections between Georgia's small and medium-sized producers and the Georgian diaspora in EU Member States. This collaborative approach fostered cooperation and partnership across borders, strengthening Georgia's presence in the global marketplace.

  The "EU Innovative Action for Private Sector Competitiveness in Georgia" opened new opportunities for the private sector and set the stage for continued advancement towards more up-to-date, sustainable, and greener business practices. The European Union and the United Nations remain committed to supporting Georgia on its journey toward a sustainable and prosperous future.

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  Background Information:

  The EU Innovative Action for Private Sector Competitiveness in Georgia is an EU-funded initiative, boasting an investment of EUR 5.1 million. This initiative is carried out in partnership with UNDP, the Food and Agriculture Organization (FAO), the United Nations Industrial Development Organisation (UNIDO), and the International Organization for Migration (IOM), in collaboration with Georgia's public and private sectors. It aims to promote entrepreneurship, enhance legislative frameworks, provide better access to finance, and strengthen cooperation with EU Member States.

• G7 to accelerate talks to reduce Russia’s revenues from diamonds, energy and metals

  G7 Foreign Ministers meeting in Tokyo, Japan, have reaffirmed their readiness to continue to support Ukraine and to increase economic pressure and impose robust sanctions and other restrictions against Russia.

  The Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, and the High Representative of the European Union took part in the meeting.

  “We will reinforce our coordination on sanctions to restrict Russia’s access to critical goods and technology. We will take further action to prevent the evasion and circumvention of our measures against Russia,” ministers said in a joint statement. “In order to reduce the revenues that Russian extracts from its exports, we will accelerate our consultation on energy, metals, and all non-industrial diamonds, including those mined, processed or produced in Russia.”

  They also reaffirmed that, consistent with their respective legal systems, Russia’s sovereign assets in their jurisdictions would remain immobilised, “until Russia pays for the damage it has caused to Ukraine”. 

  The ministers also said that “Russia’s irresponsible nuclear rhetoric and its announced deployment of nuclear weapons in Belarus are unacceptable”. 

  “Any use of chemical, biological, or nuclear weapons by Russia would be met with severe consequences. We deeply regret Russia’s decision to revoke its ratification of the Comprehensive Nuclear-Test-Ban Treaty. We strongly support the International Atomic Energy Agency’s (IAEA) continued presence and unfettered access at all of Ukraine’s civil nuclear sites,” the statement said.

  Concerning the South Caucasus, G7 ministers expressed their grave concern over the humanitarian consequences of the displacement of Armenians from Nagorno-Karabakh after the military operation conducted by Azerbaijan. They urged Azerbaijan to fully comply with its obligations under international humanitarian law, and welcomed international efforts to address urgent humanitarian needs for those who had been displaced.

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  Press release

• EU and UN Showcase Success of EUR 5.1 Million Initiative for Private Sector Competitiveness in Georgia

  On 14 November, 10:00 am, at Radisson Blu Iveria Hotel (First Republic Square, Tbilisi), the European Union and the United Nations will present the accomplishments of their EUR 5.1 million initiative, "EU Innovative Action for Private Sector Competitiveness in Georgia".

  

   

  Over five years, from 2019 to 2023, this landmark programme had a profound impact on the business development landscape in Georgia. It supported significant strides in advancing the circular economy, fostering robust business clusters, enhancing legislative frameworks, and boosting Georgian producers' presence in European markets.

  With financial support from the European Union, the programme was implemented in close partnership with the Georgian Government and the private sector, with the active involvement of four UN agencies: the United Nations Development Programme (UNDP), the Food and Agriculture Organization (FAO), the United Nations Industrial Development Organization (UNIDO), and the International Organization for Migration (IOM).

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  Attending:

  • Catalin Gherman, Deputy Head of Cooperation at the Delegation of the European Union to Georgia
  • Genadi Arveladze, Deputy Minister of Economy and Sustainable Development of Georgia
  • Vladimer Konstantinidi, Deputy Minister of Foreign Affairs of Georgia
  • Douglas Webb, UNDP Resident Representative a.i. in Georgia
  • Javier Sanz Alvarez, FAO Programme Coordinator
  • Giorgi Andguladze, UNIDO National Project Coordinator
  • Sanja Celebic Lukovac, IOM Chief of Mission
  • Representatives from the private sector and business clusters
• European Commission recommends to open accession negotiations with Ukraine and Moldova and grant candidate status to Georgia

  The European Commission today adopted the 2023 Enlargement Package, recommending to open accession negotiations with Ukraine and Moldova, and to grant candidate status to Georgia.

  

  In particular, the report focuses on the progress in the implementation of fundamental reforms, as well as on providing clear guidance on the reform priorities ahead. Accession is and will remain a merit-based process, fully dependent on the objective progress achieved by each country.

  In light of the results achieved by Ukraine and Moldova, and of the ongoing reform efforts, the Commission has recommended that the Council opens accession negotiations with both countries. Furthermore, the Commission recommends that the Council adopts the negotiating frameworks once Ukraine and Moldova have adopted certain key measures. The Commission stands ready to report to Council by March 2024 on the progress relating to these measures.

  In the case of Georgia, in light of the results achieved, the Commission recommends that the Council grants Georgia the status of a candidate country on the understanding that a number of steps are taken.

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  Press release

  Key findings of the 2023 Report on Ukraine

  Key findings of the 2023 Report on Moldova

  Key findings of the 2023 Report on Georgia