Acting President of the National Bank of Georgia, Natia Turnava, participated in a panel discussion during the 57th annual meeting of the Asian Development Bank.

In her speech, Turnava highlighted Georgia’s investment attractiveness, sound economic policy, and favourable business environment, noting that the country’s appealing investment environment has been recognized by international organizations such as the Heritage Foundation, OECD, and the World Bank.

The panel discussion addressed various initiatives to support fintech development and international payments, as well as the best practices from different regions and projects in which the Georgian side is involved.

Turnava pointed out that technological achievements have significantly contributed to Georgia’s current economic development. She noted that the low inflation and growing economy can be attributed to productivity in the real economy, which is the result of technological innovations.

Turnava emphasized that to capitalize on Georgia’s strategic location in the Middle Corridor and promote the country’s role as a regional fintech hub, the National Bank of Georgia has adopted decisive policies to develop the fintech sector. This includes the establishment of a regulatory framework with clear licensing rules and the introduction of various licensing regimes, such as those for digital banking, Virtual Asset Service Providers (VASP), and platform licenses.

Following the panel discussion, the National Bank of Georgia signed a memorandum of cooperation with fintech company Elevandi.