In 2008, only a few months after Georgia's conflict with Russia, OeEB signed a credit line for ProCredit Bank Georgia. An evaluation confirms that the path taken was the right one and that the credit line fully achieved its development purpose.
|Project name||ProCredit Bank Georgia - Evaluation|
|Sector||Financial sector / Microfinance / SME|
|Service||Business Advisory Services|
|Project partner(s)||KfW, ProCredit Bank Georgia|
In February 2012, KfW and OeEB jointly commissioned a review by an independent expert to assess whether the credit line was the right tool for supporting micro-, small- and medium-sized companies and whether the project makes good sense from a development perspective. The consultant assessed the project's relevance, effectiveness, efficiency, broader development impacts and sustainability.
The findings of the assessment show that the path taken was the right one. The evaluator concluded that the credit line fully achieved its development purpose. Through it, ProCredit Georgia had access to long-term, affordable credit even in an extremely difficult period. When money was scarcest, in a time of crisis, micro-, small- and medium-sized enterprises in Georgia gained the opportunity to borrow for business start-ups and expansion. In parallel, awareness campaigns expanded the knowledge of ProCredit’s customers about financial products.