Access to markets - SME Innovation and Ecosystem Suppor

About this project

Contract related to: Access to markets - SME Innovation and Ecosystem Suppor - Georgia and the European Union (EU) maintain a close relationship with a far-reaching Association Agreement, including a Deep and Comprehensive Free Trade Area (DCFTA). The EU is the main trade partner of Georgia. Around 21% of its trade takes place with the EU. Following the year 2020 of pandemic-related contraction, the economy started to rebound strongly thanks to an overall increase in tourism and remittances inflows. This rebound is, however, impacted by the economic effects of Russia¿s war of aggression against Ukraine. The International Monetary Fund (IMF) has revised its previously estimated 5.8% GDP growth to 3.2%, as at June 2022. The goal of this Action is the promotion of inclusive and sustainable growth in Georgia. This will lead to a thriving business sector, improved livelihoods and decent employment for the population. This is even more important now in view of the current geopolitical developments in the region. The Action contributes directly to the Economic and Investment Plan, in particular the Flagship 3 for Georgia on economic recovery (¿80.000 small and medium enterprises (SME) reap the full benefits of the DCFTA¿) but also Flagship 6 on energy efficiency. The Action will support the following priorities:1) Better Goods and Services: conformity assessments body development programme, promoting quality labels, support to Georgia¿s quality infrastructure, consumer protect…

Goals

Sustainable Development Goals this project works towards

• 4Quality Education
• 5Gender Equality
• 8Decent Work and Economic Growth
• 12Responsible Consumption and Production

Published by

European Commission - Directorate-General for Neighbourhood and Enlargement Negotiations · Other public sector

Countries

Georgia

Sectors

Small and medium-sized enterprises (SME) development

Focus

Gender equality · Also contributesEnvironment · Also contributesGood governance · Also contributesClimate mitigation · Also contributes

Places

GE - Eastern Partnership and Russia

Funded by

European Commission

Implemented by

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

Accountable

Private sector in recipient country

Passes funds through

Directorate-General for Neighbourhood and Enlargement Negotiations

Published by European Commission - Directorate-General for Neighbourhood and Enlargement Negotiations to the International Aid Transparency Initiative (IATI), last updated 30 Jan 2025 and imported automatically. IATI identifier: XI-IATI-EC_NEAR-2023-PC-32121.

No updates yet.