The DCFTA Initiative East is a facility aimed at supporting economic growth and employment-generating activities in Georgia, Ukraine and Moldova. The DCFTA facility comprises customised technical assistance to counterpart Financial Institutions (FIs) in the 3 aforementioned countries.
The overall objective of this TA operation is to promote responsible financial inclusion of lower income populations in Ukraine, Georgia and Moldova so as to support economic growth, reduce poverty, and encourage entrepreneurship across the region.
The purposes of this technical assistance operation are as follows:
- To provide Final Beneficiaries in rural locations in Ukraine with access to quality responsible financial services to fund their income generating activities, particularly in the agricultural sector;
- To improve the reputation and trust levels of Financial Institutions, particularly in Ukraine and Moldova, through the implementation of transparent best practices and social performance management;
- To contribute towards unemployment reduction by offering populations in the Eastern Neighbourhood improved access to a diverse and responsible range of financial and non-financial products aimed at encouraging income generation;
- To enhance the Financial Institutions’ compliance to national banking and/or microfinance regulation and international standards;
- To safeguard the EIB’s reputation and investments by ensuring that Financial Institutions have sound credit risk management procedures in place and serve a growing number of creditworthy clients;
- To improve loan processing and deployment efficiency and facilitate the contractual relationship between the Financial Institutions and the EIB;
- To increase the flow of external investment coming into the region thanks to improved banking transparency and reporting practices;