Armenia, Azerbaijan , Georgia
Local Project Partners
German Project Partners
Germany’s KfW Development Bank and the World Wildlife Fund (WWF)
11/2016 - 03/2017
In rural South Caucasus, Sparkassenstiftung is helping its partner countries to set up special areas to protect various animal and plant species. As a result, local people will have to restrict their business activities or adapt their business practices – in return for compensation to be paid out via local banks. The project therefore aims to identify financial institutions that have the capacity to make efficient and cost-effective payments to a large number of beneficiaries.
The project’s first move in 2016 was to assess the framework conditions and then analyse the potential candidates. Suitable institutions have since been identified in Azerbaijan and Armenia, while selection in Georgia is scheduled for early 2017.
The organisations and groups of beneficiaries will be informed about the attendant payment modalities in the further course of the project. Moreover, the project is also planning to roll out financial education measures for them.