Twinning Project for the National Bank of Georgia

modification date 05 March 2019

On 27 February 2019, the Delegation of the European Union to Georgia reported that the Polish Financial Supervision Authority (PL: Urząd Komisji Nadzoru Finansowego—UKNF) signed a twinning contract for the benefit of the National Bank of Georgia: ‘Strengthening the National Bank of Georgia capacity in the Field of Banking and Payment Services in Line with the EU Standards’.

This will be the forth twinning project implemented by the Polish financial supervisor, again in a country recognised as a priority country for the foreign policy of the Republic of Poland.

The project envisages the implementation of expert measures as part of the European Commission funding in the amount of EUR 1 750 000 between March 2019 and February 2021. 

The subject matter of the project measures includes two components relating to the adjustment of the Georgian legislation to the standards of acquis communautaire, in the field of banking and payment services, respectively.

Additionally, due to the complex scope of the support expected by Georgia, the UKNF will be working with experts from other institutions, such as the National Bank of Poland, the Bank of Lithuania, and the National Bank of Romania.