The number of MFOs  decreased by 19 in Georgia

The number of MFOs decreased by 19 in Georgia

access_time2019-11-12 10:55:13

According to the decree of the Vice President of the National Bank of Georgia of November 1, another microfinance organization has stopped functioning in Georgia-  bpn.ge reports.

Specifically, registration for the MFO Swiss-Credit has been abolished and the liquidation process has  started.

According to the National Bank’s statistics, this year the number of microfinance organizations is decreasing almost every month. As of January 2019, a total of  65 microfinance organizations were registered in the country, in  February - 63 MFOs; in March-April - 61; in May-  58 MFOs; in June- 56 microfinance organizations were registered in the country, in July - 55  ; in August - 53, in September - 52; as of November 11 their number made  48.


The number of microfinance organizations reduced by 19 in one year. As of November 2018, in total 67 MFOs were registered in Georgia.


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