Issue 4, 2019. August-September

   

USAID LAUNCHES FIVE-YEAR ECONOMIC SECURITY PROGRAM

The program aims to bolster growth in economic sectors outside of agriculture, increase the number of small and medium businesses in Georgia and support the diversification of more productive economic activities, including tourism.

The USAID Economic Security Program will improve lives by attracting investment and bolstering employment across several sectors.

The program will encourage investment and job creation through a grant fund and a partnership fund. Over five years, it aims to create 4000 new jobs and support at least 600 micro, small and medium enterprises in Georgia.

Mission Director Peter Wiebler stated, "We believe that the USAID Economic Security Program will have a profound impact on the livelihoods of Georgia's citizens and institutions by enhancing prosperity, creating jobs and promoting economic self-reliance."
There will be four components to the program: (1) Strengthening cooperation in targeted sectors; (2) Supporting micro, small and medium businesses to improve productivity, sales, quality, and develop new products and services; (3) Industry-led workforce development; (4) Building public-private partnerships.

The program was launched in June; it will continue for five years. It aims to increase sales of assisted enterprises by $50 million and leverage $15 million in investment through partnerships.