Natia Turnava, Acting Governor of the National Bank of Georgia, participated in the signing of the Memorandum of Understanding between the USAID Economic Security Program and Mastercard Europe.
The Memorandum is about a new partnership between USAID and Mastercard to strengthen e-commerce in Georgia, which will help businesses and consumers take advantage of the Georgian Government's e-commerce reforms. E-commerce creates new opportunities for economic growth and prosperity on Georgia’s path to European integration.
The partnership will include an information campaign to raise business and consumer awareness and increase confidence in electronic commerce. Technical expertise based on international best practices will support the development of Smart Contracts, the CBDC support tool.
As Natia Turnava mentioned in her speech, Georgia's e-commerce has the potential of double-digit annual growth in the next few years.
"The National Bank of Georgia is continuously developing technology innovations and plans to foster new promising innovations by creating a new digital currency. Importantly, this year we received an award for best CBDC initiative from the Central Banking international publication. We highly appreciate our cooperation. I am glad that we are closely cooperating with USAID as well as with Mastercard in this area. This partnership is invaluable and we look forward to a long fruitful cooperation in the future," said Natia Turnava.
