Executive Government Meeting held and led by Irakli Garibashvili, Prime Minister of Georgia considered a Draft Law on Micro Banking. According to the legislative initiative, a financial institution will be created as a micro bank to operate in the sector, which is characterized with relatively low interest of commercial banks because of high operating expenses.
Micro banks will be mandated under the law to lend funds to the entrepreneurial and agricultural sectors, thus increasing access to finance for citizens of the country, especially in rural areas.
Levan Davitashvili, Minister of Economy and Sustainable Development of Georgia also submitted to the Executive Government Meeting a National Strategy for Road Safety for 2022-2025 and Action Plan for Road Safety 2022-2023.
The referred Strategy is aimed at increasing the effective management of road safety, improvement of stakeholder behavior, safe road infrastructure, improvement of the quality of vehicle safety, quick and effective medical aid.
The Cabinet of Ministers considered today 6 agenda items.