EBRD in 2006 provided resources to two Moldovan banks, Mobias Banca and Banca Sociala, for lending to microbusinesses. This international financial institution also provided funds for technical assistance (consulting of recipient banks). This week we met Michael Kortenbusch, Managing Director of the German consulting company BFC that won the EBRD tender for provision of these services.
The article, published in November 2005 by KfW’s Project Manager Stefan W. Hirche and BFC’s Managing Director Michael Kortenbusch, identifies the main reasons for the lack of finance for small enterprises in rural areas of Georgia, and why most microfinance suppliers have focussed their attention on the urban centres.
Furthermore, previous experiences with microlending operations in Georgian rural areas are summarised and suggestions made on how to deal with some of the inherent problems of agricultural lending.