The National Bank of Georgia is pleased to announce the publishing of the 2021 edition of the Supervision Strategy for 2020-2022. Last year the NBG published the first document of the supervisory strategy that set out the strategic priorities for 3 years (2020-2022). With supervisory priorities for 3 years remaining unchanged, the National Bank takes care of updating its supervisory strategy every year to make sure that the document adequately reflects the changes in supervisory priorities, tasks and timeframe that effectively serve the National Bank's supervisory mandate and mission.

"The availability of a supervisory strategy document is crucial for the financial sector. With the update of the document, the key tasks and changes planned in the supervisory priorities for the next 12-18 months are underscored. Keeping the stakeholders proactively informed about the current priorities, it also helps us to plan the work needed to accomplish our priority tasks with maximum efficiency," Governor Gvenetadze noted.

The release of the first supervision strategy document overlapped with the prevalence of the coronavirus (COVID-19) pandemic. COVID-19 proved to be a significant challenge for the global economy, including Georgia. From the very beginning of the pandemic, the National Bank took a number of vital steps to reduce the impact of the new coronavirus. These crucial actions resulted in the National Bank and its supervised entities employing their resources to cope with underlying challenges. Despite the COVID-19 pandemic, the National Bank made significant progress in the very first year of the strategy. The long-term goals and strategic priorities of the National Bank remain unchanged. In 2021, the National Bank will conduct its activities with the following supervisory priorities:

Detailed information on updated activities and deadlines is available in the 2021 document. A detailed report on the implementation of the 2020 strategy is also available in the same document.