Natia Turnava, Acting Governor of the NBG, spoke about the current situation in the banking sector, access to finance and future plans as she met with bankers. The meeting was attended by Soso Pkhakadze, President of the Business Association [BA].

“Another working meeting was held with the commercial banks of Georgia. We continue to talk about the improvement and easing of regulations. Our goal is to invest more resources in the economy and have more credit activity. Most importantly, this activity should be more efficient. This is very important for our citizens - users of banking services, in terms of increased access to finance and employment. Everything should be done by considering price stability”, - said Natia Turnava.

“We are enjoying constructive dialogue as intensive meetings with the NBG are underway. At the 2 recent meetings, we came up with a sort of roadmap for future actions. Today we also reached a clear agreement regarding the easing of several regulations. I think, in the end, this will be very good. 1st, it will further strengthen banking and financial system. 2nd, more funds will be available for business, and ultimately, this will support the development of the economy. The main task of the BA is to do everything together with the Government to develop business, being the key prerequisite for the development of the economy”, - said Soso Pkhakadze.

“We discussed a number of important issues related to future regulations. First - larization, which is important not only for the banking sector, but for the economy as a whole. The 2nd issue is related to the financial sector - what regulations can be introduced for the banking sector, both in the short- and long term. And 3rd - how to invigorate the financial sector in the medium term in 2024. By this I mean availability of finance for individuals, small and medium businesses, and corporate businesses, allowing the banking sector to wake up in 2024”, - said Vakhtang Butskhrikidze, General Director of TBC Bank.

Series of meetings with commercial banks and business sector are to continue.