Working on the draft law on “Microfinance Organizations” has been completed at the National Bank of Georgia, which was submitted to the Parliament of Georgia for consideration. The draft law defines the working conditions of microfinance organizations, principles of their activities, their authority and organizational structure.   Currently about 12 organizations are officially engaged in the microfinance activities in Georgia. They were established in 1997-2000 years with financial support from foreign   donor organizations. For today the loan portfolio of the microfinance organizations amounts to GEL 23 million. They have 35 000 active borrowers, which could improve their own financial position and, respectively, social status, using micro-loans. Besides, there are a great number of Lombard type institutions, working on granting micro-loans as well.   At present the activities of microfinance organizations operating in Georgia are governed by the Civil Code. All noncommercial legal entities (a fund or union), which are established and financed by  grant issuing (donor) organizations with the purpose of reducing poverty should  have passed registration again  before April 1, 2005.   The Draft Law on “Microfinance Organizations” will be published through the official internet-representation office (www.nbg.gov.ge) of the National Bank of Georgia and in the bulletin of the NBG for public discussions.