The Programme aims to use Investment Grants as hedging cost contribution to allow the Bank to make available affordable synthetic local currency loans to Financial Intermediaries in the Southern Caucasus region to allow them, in turn, to extend local currency loans to MSMEs and protect them from foreign exchange fluctuations. Complementary Technical Assistance (TA) will support intermediaries in providing access of inclusive and green finance.

1. Facilitating access to local currency financing for MSMEs thus increasing their contribution to economic growth and employment generation.
2. Support lending in local currency to MSMEs and provide Technical assistance to strengthen the capacity of intermediaries/clients to address related problems of access to finance for MSMEs.

1. Employment indirectly supported.
2. Increased access to finance.
3. Productive investments in the economy mobilized.
4. Strengthened capacities of sector institutions and public/private operators to enable/ undertake/manage investment climate improvements or impact investment projects climate improvements or impact investment projects.