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Lazika Capital is a microfinance institution established in 2000 by Oxfam Great Britain in Georgia. Its mission is to facilitate access to financial services tailored to low- and middle-income entrepreneurs. Lazika Capital is now among the leaders in the Georgian microfinance sector and has nearly 14,000 clients. The agricultural sector accounts for 52% of its portfolio.<\/p>\n
In 2020, to combat the Covid-19 crisis, Lazika Capital provided significant benefits to its clients directly affected by the health and economic crisis. During this period, the Grameen Cr\u00e9dit Agricole Foundation, along with other lenders, supported Lazika Capital to limit a decline in its liquidity and ensure the institution could continue to finance its clients. Although the health situation improved in 2021, the institution remains actively involved in various public programs aimed at mitigating the negative impact of the pandemic and accelerating economic recovery.<\/p>\n
Lazika Capital was the first microfinance organization in Georgia to obtain permission from the National Bank to provide remote services.<\/p>\n
To support entrepreneurs, particularly in the agricultural sector, Lazika Capital offers its clients technological improvements to make their products and services more diverse and flexible. For example, the institution uses digital tablets to better manage files in the field. This digital offering was particularly useful during the lockdown period, as clients could apply for loans, receive notifications of their approval, and make repayments without visiting a branch.<\/p>\n
The positive results achieved in 2020 demonstrate that Lazika Capital is a resilient institution capable of facing challenges while continuing to be a successful, reliable, and responsible partner in the microfinance sector. For its part, the Grameen Cr\u00e9dit Agricole Foundation continues to support the institution, with which it has been working since 2017, to enable it to continue supporting entrepreneurship in Georgia, despite the challenges faced during this period of uncertainty.<\/p>\n