The number of microfinance organizations is reducing in Georgia

TBILISI(BPI)- As of the 3rd quarter of 2020, the number of microfinance organizations operating in Georgia reduced  by 16 compared to the same period in 2019.

In particular, in the 3rd quarter of 2019 the country had 56 MFOs while this year their number has reduced to 40.

The number of staff hired by microfinance institutions was cut by 152 people – in the 3rd quarter of 2019 the sector employed 4,174 people while in the reporting period of 2020 – 4,022.

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February remittances rose 9.5%

TBILISI(BPI)- According to the National Bank of Georgia, $ 137.3 million was transferred from abroad …