Tackling Indebtedness in Georgia through Czech Innovations
Around half of Georgia’s households are indebted. 65% of debtors say that the debt has worsened their economic situation and around 40% say that debt is their households’ biggest problem making indebtedness one of Georgia’s biggest causes of poverty and inequality.
The overall objective of the project is to strengthen the economic resilience in Georgia through a well governed credit environment and to promote consumer-friendly and accountable debt practices. The project supports these goals by advocating for consumer protection for Georgian borrowers and ensuring the public has the knowledge and resources to protect their rights. The anticipated long-term impact is an increased in household economic security, greater accountability of lenders, and credit policies that support individual investment in income generating activities and education.
The project is implemented by People in Need- Czech, a non-profit, non-governmental organization that implements humanitarian relief and long-term development projects, educational programs, and human rights programs in crisis regions internationally.
Deliverable 1: Debt Environment in Georgia (Report)
Deliverable 2: PIN Debt Recommendations
Eurasianet Article: Georgia’s pensioners hamstrung by crippling debt
New Eastern Europe Article: Georgia’s household debt crisis deepens in the wake of COVID-19