Tbilisi, Georgia, 3 May 2024 – At the 57th Asian Development Bank (ADB) Annual Meeting in Tbilisi, Georgia, a significant Microfinance Roundtable convened by the ADB in collaboration with Credo Bank and Mastercard. The event underscored the collective commitment to advancing microfinance initiatives across Asia and the Pacific region.
The by-invitation-only event brought together esteemed leaders from commercial banks, microfinance institutions, regulatory bodies, and fintech enterprises to deliberate on strategies aimed at bolstering support for micro, small, and medium-sized enterprises (MSMEs), low-income communities, and women-led ventures.
Zaza Pirtskhelava, CEO of Credo Bank, emphasized the significance of the roundtable, stating, "This roundtable showcased diverse and world-wide experiences, achievements, and obstacles encountered in empowering MSMEs. It explored the shift from traditional credit-centric approaches to fostering comprehensive access to financial and digital solutions, thereby enhancing the livelihoods of individuals worldwide.”
Yasemin Bedir, President of Eastern Europe Division at Mastercard, emphasized the significance of the conference and the pivotal role of supporting MSMEs, stating, "This conference serves as a crucial platform for stakeholders to collectively address the challenges facing MSMEs and explore innovative solutions to foster their growth. At Mastercard, we are committed to leveraging our expertise and resources to empower MSMEs, recognizing their vital contribution to economic development and inclusive prosperity."
"MSMEs can drive sustainable development, and many are already leading the way in finding and implementing sustainable business solutions,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “Financing MSMEs, especially those led or owned by women, is one of the priority areas for ADB’s private sector operations, which is combined, wherever possible, with capacity building that can help make MSMEs work in a more sustainable manner."
Furthermore, the event marked a historic milestone as it coincided with Georgia's inaugural hosting of the ADB's Annual Meeting, a testament to the nation's growing stature as a hub for dialogue on regional development issues.
About Credo Bank
Credo Bank, the fifth-largest commercial bank in Georgia, boasts a widespread rural presence, with 90 branches and digital infrastructure catering to over 480 thousand active customers, with a noteworthy emphasis on empowering women entrepreneurs. It is owned by international social impact and development finance institutions such as German - Access Microfinance Holding AG, Swiss - responsAbility Investment Management AG, the Dutch – Triodos Investment Management BV and French – Proparco.
About ADB
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.