Visa, the world leader in digital payments, and the European Bank for Reconstruction and Development (EBRD) signed the Memorandum of Understanding at the 33rd EBRD Annual Meeting and Business Forum held in Yerevan.

The signatories of the memorandum are Diana Kiguradze, Visa Regional Manager for the Caucasus region, and Alkis Vryenios Drakinos, EBRD Regional Director for Caucasus. The partnership aims to promote sustainable and inclusive economic growth and other countries in the EBRD’s region by supporting digitalization and financial inclusion.

Under this cooperation, the partners will facilitate programs and dialogues for promoting financial literacy, supporting SMEs and female entrepreneurs, and facilitating economic participation through electronic payments. This will also include the digitalization of services, such as GovTech and public transit.

“With Visa and the EBRD’s extensive experience of operating in the region, we are uniquely positioned to bring positive change to economy and society through this partnership,” comments Diana Kiguradze, Visa Senior Director, Regional Manager for the Caucasus region. “We are proud to team up with such a major public sector player to give a boost to digitalization, SMEs, and entrepreneurial women in this dynamic country and fast-growing markets.”

"We are delighted to partner with Visa in advancing key priorities such as digitalization, financial inclusion and sustainable economic growth. Women entrepreneurs bring significant contributions to economic growth and there is still much untapped potential. We are confident that together we can make twice the impact of driving positive change, fostering innovation, and creating opportunities for inclusive growth and prosperity across the EBRD regions” said Alkis Vryenios Drakinos, EBRD Regional Director for Caucasus.