Credit Guarantee Fund for Georgia


  • Ketevan Lapachi International Black Sea University
  • Revaz Ormotsadze USAID/Caucasus


The paper addresses to the most accute problems (results of the world wide crisis and August conflict) of the Georgian economy - mobilizing savings and enhancing access to credit for the micro and small companies in Georgia and facilitating FDI growth by improving a foreign small business confidence to invest in Georgia. The paper analysis the international practice in design and management of the credit guarantee schemes (CGS) to develop some proposals and recommendations how to expand access to credit to the thousands of micro and small companies in Georgia and enabling them to grow at more accelerated rates.

Author Biographies

Ketevan Lapachi, International Black Sea University

Lecturer; Coordinator of Finance Program at International Black Sea University, Tbilisi, Georgia.

Revaz Ormotsadze, USAID/Caucasus

Fulbright Professor, Project manager, USAID/Caucasus, Tbilisi, Georgia