Within the framework of a technical mission to Georgia, World Bank experts held working meetings with Nino Jeladze, Vice Governor of the National Bank of Georgia (NBG), as well as with representatives of various structural units of the NBG, the Deposit Insurance Agency, and the Ministry of Finance.

During the visit of the World Bank experts to the NBG, the parties discussed a range of issues, including strengthening the resilience of the financial system, preventing crises, improving crisis-management capabilities, and enhancing the overall framework.

The main purpose of these meetings is to further improve the resolution framework, align it with international best practices, and refine the operational and practical aspects related to the resolution regime.

Discussions also covered matters related to crisis management within Georgia’s resolution framework and the financing of bank resolution processes. In particular, the talks addressed the possibility of potential contingent financing from the World Bank for the Resolution Fund and the associated technical details. The project aims to support the country’s financial stability and ensure access to financing for resolution powers in the event of a crisis. The essential roles of the Deposit Insurance Agency and the Ministry of Finance were emphasized, both in the context of participation in this project and in broader resolution and crisis-management efforts.

It is noteworthy that the World Bank and the World Bank’s Financial Sector Advisory Center have been actively cooperating with the National Bank of Georgia for many years.