16 November, 2022

Liberty continues the strategic partnership of the large-scale project "Youth Entrepreneurship for Rural Development"

Liberty continues the strategic partnership of the large-scale project "Youth Entrepreneurship for Rural Development"


In the Municipality of Mtskheta, representatives of Liberty and Mercy Corps presented certificates of completion of intensive Business Excellence Trainings (BET) to young people from different regions of Georgia involved in the "Youth Entrepreneurship for Rural Development" (RDYE) project.

The Youth Entrepreneurship for Rural Development (RDYE) project is a 3.5-year project funded by the Austrian Development Cooperation (ADC) and implemented by Mercy Corps Georgia. The strategic partner of the project is Liberty Bank, the project is also supported by the International Foundation for Tourism and Youth.

Liberty has also been directly involved in the training activities of the RDYE project and has created a financial education training module for the project, which is led by Liberty staff together with trained trainers.

The authors of the business idea that passed to the final will receive additional special offers tailored to their project from Liberty Bank.

The RDYE project will be implemented for 42 months, from December 2021 to May 2025, in 18 municipalities of four regions of Georgia and aims to deepen the entrepreneurial skills and knowledge of young people (18 to 35 years old) representing the target municipalities, as well as to support agricultural and non-agricultural directions of businesses, access to finance and promotion of market connections.

The abovementioned project will help more than 1,500 young people aged 18-35 (50% women), including representatives of ethnic and religious minorities, inhabitants of highland villages, eco-migrants, internally displaced persons, and persons with disabilities, to develop entrepreneurial skills and opportunities to create over 50 sustainable, new and/or expand existing, youth-led agricultural and non-agricultural enterprises/businesses.

At the end of the BET, participants will prepare business plans and participate in the RDYE project grant competition. The winners of the grant competition will receive appropriate funding (80/20) to develop their own businesses.

At the end of the RDYE project, in total, up to 1,500 young people representing the target municipalities will undergo a two-day basic entrepreneurship training, and among them, 200 young people will become participants in the BET program of intensive training.

"It is important for Liberty to contribute to the business development activities of young entrepreneurs living in rural areas. Financial education and financial contribution will help young people to create successful and responsible business companies. We thank our partners for this opportunity." – Vazha Menabde, MSME Director of Liberty.

"During the implementation of programs supporting young people living in the regions and developing youth entrepreneurship, intersectoral cooperation is the most important thing. The participation of the private sector and the consolidation of resources always increase the quality of the intervention. The project implementation process has also shown that synergy-based approaches create much more opportunities and sustainable results." - Ucha Varamashvili, Youth  Entrepreneurship for Rural Development Project Director.

About Austrian Development Cooperation

Austrian Development Cooperation supports the sustainable development of countries in Africa, Asia, and Southeast and Eastern Europe. The Federal Ministry of European and International Relations is establishing a strategy. The Austrian Development Agency, as the operational agency for Austrian Development Cooperation, implements programs and projects with public institutions together with civil society organizations and enterprises.

About Mercy Corps

"Mercy Corps" is an international non-profit organization that helps people create safe, productive, and just environments to alleviate suffering, poverty, and oppression. Mercy Corps has been operating in Georgia since 2000, creating productive, resilient, stable, safe, and just communities affected by poverty and conflict. Regions Through the Youth Entrepreneurship for Rural Development project, Mercy Corps works with rural youth, young entrepreneurs, and policymakers to promote entrepreneurship and economic development among rural youth.
About JSC Liberty Bank

Liberty is one of the largest commercial banks in the country, serving more than 1.7 million individuals and more than 50,000 small and medium-sized businesses. The assets of the bank amount to 3 billion GEL and more than 4500 employees are employed. Liberty is represented throughout the country with the broadest network - more than 360 service centers, 632 ATMs, and self-service and POS terminals in all regions and municipalities of Georgia. In addition to the developed infrastructure, modern digital services and remote services are available for both individuals and legal entities.