RDFG signed a memorandum of cooperation with the National Bank of Georgia

On July 31, 2019, Association Rural Development for Future Georgia (RDFG) signed a memorandum of cooperation with the National Bank of Georgia which aims to raise awareness of financial education among youth. The document was signed by Vano Grigolashvili, RDFG chairman and Koba Gvenetadze, the president of the National Bank of Georgia. One of the main goals of the memorandum is to plan and implement joint educational projects for future entrepreneurs and to conduct training sessions about finance for different projects’ beneficiaries.

On August 2, 2019, in the framework of the memorandum, the representatives of the National Bank of Georgia conducted a training session for the participants of the RDFG Regional Youth Entrepreneurship Program which aimed to inform youth about the financial organizations and their services. Moreover, the participants of the project found out how to become more confident in dealing with various financial organizations and got information about their rights and responsibilities in order to make the right decisions in the seeking process of funding. The event was held in the Bazaleti Boot Camp and was attended by Brian King, Chief of Party of the USAID Zrda Activity in Georgia.

Regional Youth Entrepreneurship Program is being implemented by RDFG in the framework of the USAID Zrda Activity in Georgia and aims to strengthen rural routh through entrepreneurship. Within the project, entrepreneurship skills development trainings were conducted into two stages. The training sessions were implemented on the basis of the United Nations Industrial Development Organization’s (UNIDO) entrepreneurial-training manual and were held in 9 municipalities at the same time. Within each phase, maximum 25 people were invited to participate in the training sessions in each municipality. After this, the project participants were required to present their business ideas related to Agriculture, Tourism, Innovations/Technologies and Creative Industry.

Within the second stage, after completion of the local training sessions, the authors of 15 entrepreneurial ideas or the group of authors (max of 3) were invited to the Boot Camp in Bazaleti where during 6-7 days they had an opportunity to attend the intensive training sessions and work on turning their own ideas into the business projects. At this time, the jury is going to select 3 winner business projects that will be awarded grants: 10 000 GEL, 8 000 GEL,  and 6 000 GEL.

The project is supported by Enterprise Georgia, Creative Georgia, Georgia’s Innovation and Technology Agency, National Tourism Administration, Agricultural Project’s Management Agency, Crystal Fund, National Bank of Georgia and TBC Startuper.

The project will be implemented into 3 phases: I and II phases – Summer and Fall, 2019; III phase – Spring of 2010.
The key outputs of the project:

  • At least 5 hundred rural youth will undergo entrepreneurship trainings;
  • At least 5 new enterprise will be created, 25 people will be employed.