Thursday, December 27, 2007
Georgia Business Development Project
The Georgia Business Development Project (GBDP) consists of two initiatives: Corporate Governance and Leasing, both with the goal of improving the environment for private sector development. The Project provides technical assistance in several key areas: strengthening corporate governance by introducing international best practices to Georgian Joint Stock Companies (JSC) and leasing sector development. Corporate governance will train JSC managers, board members, and shareholders as well as government officials via seminars and follow-up consultations. Leasing will create the necessary legislative framework, assist investors to establish lease companies and to provide training to lease companies and to perspective lease clients. The Project will conduct a Small and Medium Enterprise (SME) survey that will provide a database against which to identify barriers, obstacles, legislation and regulations that inhibit SME growth. Corporate governance increases company transparency, corporate efficiency and potential investment opportunities required for sustained growth.Leasing is an alternative source of financing that provides access to the financing of fixed assets.The SME survey will reveal key problems that hinder SME development. SME's are important given the scope of the informal sector in Georgia and its role in employment creation.Each of the Project's initiatives is vital in creating a competitive environment for private sector development.GBDP began in May 2003 and is financed by Canadian International Development Agency (CIDA) and the International Finance Corporation (IFC). Twelve Georgian experts and a Canadian Manager are members of the Project team that includes lawyers, financial specialists, a public relations specialist, two research analysts and a team assistant.
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