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Georgia

Despite a decade or so of positive economic trends, poverty and unemployment continue to be pressing problems in Georgia, which lies at the crossroads of Europe and Asia. The World Bank estimates that 32 percent of the population still lives on less than $2.50 per day, with higher concentrations of poverty in the more rural areas. Unemployment, at 11 percent, is the highest in the region.

With 36 locations throughout the country, FINCA Bank Georgia serves customers in both urban and rural areas, offering its customers a wide range of credit, money transfers and savings services. FINCA Georgia was one of the first FINCA subsidiaries to be certified as client-friendly by the Smart Campaign.

Explore Georgia Data ↓

Financial Inclusion

Georgia:
Reaching the Financially Excluded

39% Adult population financially excluded
15,299 45% Female borrowers % #
65,841 Total FINCA clients
20,864 62% Borrowers in rural areas Rural people struggle with a lack of infrastructure and are facing increasing isolation as youth migrate to the cities in search of employment. % #
33,651 Total FINCA borrowers

Among FINCA countries, Georgia has the lowest rate of financial exclusion, but this still means that 40 percent of adults don't have a bank account. Poverty and financial exclusion are especially prevalent in rural areas, where two-thirds of FINCA's borrowers reside. These customers take advantage of FINCA's crop and livestock loans to improve their farm production, or to diversify their income through small businesses.

View All Financial Inclusion Data

Living Standards

Georgia:
Quality of Life

6,057 18% Client homes without water Rural people struggle to obtain safe drinking water, relying mainly on local wells or springs. % #
0 0% Client homes without electricity % #
13,460 40% Client homes without access to Internet % #
1,010 3% Clients who don’t own their home Many Georgians need to improve or expand their dwellings, especially those that are accommodating multiple generations under one roof, which is common in rural areas. % #
931 3% Head of household with primary education or less % #

Living standards for our clients in Georgia are similar to those found in neighboring Armenia, even though Georgia's clients have a more rural profile. Almost all breadwinners have at least some secondary education, and home-ownership is the norm.

Housing size and quality, however, are still issues for many borrowers. Families often need to expand their living space to accommodate multiple generations under one roof. And while water is abundant in Georgia, nearly 20 percent of FINCA's borrowers live in homes without this vital service.

View All Living Standards Data

Income & Employment

Georgia:
Income & Employment

$3,412 50% Average annual profit 50% of the total sales. % #
1.7 Average # of employees per client enterprise
56,519 People employed in FINCA-funded enterprises
25,644 45% Employees hired due to FINCA loan % #
44,627 79% Wages paid above the poverty line % #
Explore FINCA Loan Sectors

FINCA's borrowers are running profitable businesses, earning a 50 percent margin on their sales. Unlike many subsidiaries, where clients are concentrated in trade, FINCA Georgia's clients are spread out across a diverse range of activities, including services, livestock, crops and manufacturing. Profits are especially strong in the latter two sectors.

FINCA's loan has a significant impact on employment in our clients' businesses. Of all the people working in these enterprises, about 45 percent are employed as a direct result of the loan from FINCA, according to the business owner, Employment creation is especially high in crops and manufacturing. Most of these wages are above the national poverty line, multiplying FINCA's economic impact well beyond the borrowers we directly serve.

View All Income & Employment Data

Women’s Empowerment

Georgia:
Empowering Women

15,299 45% Female borrowers % #
3,896 12% Clients with female-headed household % #
13,246 39% Households with female as main earner % #
13,460 40.0% Businesses run by women % #
32,305 57% Women employed by enterprises Avg. #
20,347 36% Jobs created by women Research shows that female-owned businesses in Georgia tend to employ proportionally more women. % #

Most of FINCA's female clients in Georgia are the main source of income in their families. Nonetheless, most of these women are members of a traditional, two-parent household. In contrast to its neighbor, Armenia, where our female clients are often running a business with their husbands, women in Georgia are using FINCA's loans mainly to run their own businesses. In Georgia, they create fewer jobs than their male counterparts, because they are more concentrated in sectors such as trade and services, which employ fewer people.

Women are also the majority of the workforce in the FINCA-funded businesses. Fifty-seven percent of the people working in our clients' enterprises are women, putting Georgia right next to Zambia among the highest job-creators for women. These wages make a direct contribution to the family's well-being and give women an important role in the family's well-being.

View All Women’s Empowerment Data

Clients’ Goals

Georgia:
Attaining Business and Personal Goals

Goals Set By FINCA Borrowers
Goals Met By FINCA Borrowers
3,062 9% Start a business % #
12,619 38% Expand a business This is the most commonly-cited goal. % #
337 1% Invest in education % #
3,971 12% Improve their home The second highest priority for FINCA borrowers in Georgia is to improve their homes (12%). % #
774 2% Buy an asset % #
875 3% Pay down debts % #
2,441 80% Start a business % #
11,319 90% Expand a business % #
262 78% Invest in education % #
3,157 80% Improve their home % #
580 75% Buy an asset % #
597 68% Pay down debts % #

FINCA's clients in Georgia have a unique mindset, compared to the rest of our borrowers around the world. While the most common goal in Georgia is to expand or start a business, these goals are cited by less than half of borrowers. The next-highest priority is to improve their homes, though this goal is mentioned much less frequently. What stands out is that more than a third of clients (36 percent) did not mention any goal in particular. That is why the percentages above add-up only to 64 percent.

View All Clients’ Goals Data

Special Topics

Georgia:
Poverty, Economic Sectors, Jobs and Profits

FINCA Loan Sectors

7,471 22% Trade % #
8,480 25% Services % #
4,980 15% Manufacturing % #
6,831 20% Crops % #
5,889 18% Livestock % #

Profit and Profit/Sales Ratio by Sector

$4,448 33% Trade Profit/sales ratio Avg. profit
4,261 47% Services Profit/sales ratio Avg. profit
$4,131 51% Manufacturing Profit/sales ratio Avg. profit
$2,166 59% Crops Profit/sales ratio Avg. profit
$1,713 67% Livestock Profit/sales ratio Avg. profit

Jobs by Sector Due to FINCA Loan

5,593 22% Trade % #
4,514 18% Services % #
5,137 20% Manufacturing % #
7,319 29% Crops % #
3,081 12% Livestock % #

Eurasia Stories

FINCA Kosovo Client Shadije Asllani

Reaping the Rewards of Asparagus in Kosovo

Shadije Asllani is a successful asparagus farmer in Kosovo. She used microfinance loans from FINCA to realize her dreams.
Read Shadije's Story
Konul Khalilova is employed by a FINCA client.

A Dream in Sight

Konul Khalilova is one of two employees at a busy women’s clothing shop, owned by a FINCA Azerbaijan client. Konul is a...
Read Konul's Story
Nanuli Nutsubidze, FINCA Georgia Client

Aunt Nanuli’s Pies

Nanuli lives in Gori, Georgia, near the railway station. She has a small kiosk on the platform selling very popular meat-filled fried...
Read Nanuli's Story

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