IFC Bolsters Risk Management in Georgia

The World Bank’s International Finance Corp. will help to improve the risk management practices of Georgia’s Bank Constanta. IFC experts will train the bank’s staff members on best practices in risk management and help them prioritize operations.

The initiative forms part of IFC’s Financial Crisis Response Program in Europe and Central Asia that was launched in 2009 to train banking professionals on risk management and dealing with distressed assets.

“Constanta is the first Georgian bank to join IFC’s regional Financial Crisis Response Program. We are working with financial institutions across the region to strengthen their risk management capabilities. Our long-term objective is to help banks emerge from the crisis with enhanced risk management framework and capabilities to protect them from future crises,” said Thomas Lubeck, IFC regional head, Caucasus.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.