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Report No. : |
344122 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ASOTSIATSIA SAMKHAREO GANVITAREBA MOMAVALI SAKARTVELOSTVIS
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Registered Office : |
T. Tabidze Street 39, Flat No. 2, Vaki
Distric, Tbilisi |
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Country : |
Georgia |
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Date of Incorporation : |
28.12.2010 |
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Legal Form : |
Non Profit Association |
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Line of Business : |
The Subject is involved in the following activities: Subject assists vulnerable communities in
social and economic development and strengthen their self-resilience, provide
technical assistance to local governments in development and adaptation of
advanced management systems and methodologies. |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
LARI 50,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Georgia |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEORGIA - ECONOMIC OVERVIEW
Georgia's main economic activities include cultivation of
agricultural products such as grapes, citrus fruits, and hazelnuts; mining of
manganese, copper, and gold; and producing alcoholic and nonalcoholic
beverages, metals, machinery, and chemicals in small-scale industries. The
country imports nearly all of its needed supplies of natural gas and oil
products. It has sizeable hydropower capacity that now provides most of its
energy needs. Georgia has overcome the chronic energy shortages and gas supply
interruptions of the past by renovating hydropower plants and by increasingly
relying on natural gas imports from Azerbaijan instead of from Russia.
Construction of the Baku-T'bilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline,
and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on
Georgia's strategic location between Europe and Asia and develop its role as a
transit point for gas, oil, and other goods. The expansion of the South
Caucasus pipeline, as part of the Shah Deniz II Southern Gas Corridor project,
will result in a $2 billion foreign investment in Georgia, the largest ever in
the country. Gas from Shah Deniz II is expected to begin flowing in 2019.
Georgia's economy sustained GDP growth of more than 10% in 2006-07, based on
strong inflows of foreign investment and robust government spending. However,
GDP growth slowed following the August 2008 conflict with Russia, and sunk to
negative 4% in 2009 as foreign direct investment and workers' remittances
declined in the wake of the global financial crisis. The economy rebounded in
2010-13, but FDI inflows, the engine of Georgian economic growth prior to the
2008 conflict, have not recovered fully. Unemployment has also remained high.
Georgia has historically suffered from a chronic failure to collect tax
revenues; however, since 2004 the government has simplified the tax code,
improved tax administration, increased tax enforcement, and cracked down on
petty corruption, leading to higher revenues. The country is pinning its hopes
for renewed growth on a determined effort to continue to liberalize the economy
by reducing regulation, taxes, and corruption in order to attract foreign
investment, with a focus on hydropower, agriculture, tourism, and textiles production.
The government has received high marks from the World Bank for its
anti-corruption efforts. Since 2012, the Georgian Dream-led government has
continued the previous administration's low-regulation, low-tax, free market
policies, while modestly increasing social spending, strengthening anti-trust
policy, and amending the labor code to comply with International Labor
Standards. The government published its 2020 Economic Development Strategy in
early 2014 and former Prime Minister Bidzina IVANISHVILI launched the Georgian
Co-Investment Fund, a $6 billion private equity fund that will invest in
tourism, agriculture, logistics, energy, infrastructure, and manufacturing. In
mid-2014, Georgia signed an association agreement with the European Union, paving
the way to free trade and visa-free travel.
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Source
: CIA |
CO. NAME: ASOTSIATSIA SAMKHAREO GANVITAREBA MOMAVALI SAKARTVELOSTVIS
(CORRECT)
ASSOCIATION RURAL DEVELOPMENT FOR FUTURE
GEORGIA
(REQUESTED)
Street : Gabriel
Isakadze Street 3A
Town : Tbilisi
0160
Country : Georgia
Telephone: (995 32) 224 0501 / Mobile (995 595) 102 222
Fax : (995
32) 238 1637
E-Mail : info@rdfg.ge / vgrigolashvili@rdfg.ge
/ ntsakadze@rdfg.ge
Website : www.rdfg.ge
Shortform Name : RDFG
English Translation : Association Rural Development
for Future Georgia
Also Known As : Assotsiatsiya Regionalnoe Razvitie dla
Budushego Gruzii / Association Rural Development for Future Georgia (RDFG)
Name Position
Supervisory Board
1. Ivane
Grigolashvili Chairman
2. Ia Dadunashvili Member of the Board
3. Teona Kupunia Member of the Board
Management
1. Ivane
Grigolashvili Executive Director
2. Nata Tsakadze Chief Accountant
Total Employees : 25
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a non-profit
non-commercial organisation founded in 2010 by Ivane Grigolashvili, Ia
Dadunashvili and Teona Kupunia.
We consider it is acceptable
to deal with subject for SMALL amounts,
although it is normal
accepted practice for international suppliers to deal on secured terms with
Georgian importers.
Opinion on maximum
credit : LARI 50,000
Trade risk assessment:
Normal
NAME : BANK
OF GEORGIA JSC
Branch : Gagarin
Street 29A
Town : Tbilisi
0105
Telephone: (995 32) 244 4256
Fax : (995
32) 244 4289
Subject is funded by
means of donations provided by donors. Subject interviewed offered the
following information :
Value of Projects
Implemented : EURO 500,000 - 2014 - exact
Financial year ends 31
December.
Date Started : 28
December 2010
History : Subject was
established in Georgia on 28 December 2010, however origins of its operations
can be traced back to autumn 2010.
ID Code : 404882980
Capital : not applicable
Subject is a Non-Profit Association with the
following founders :
1. Ivane Grigolashvili
(Georgian
national / Personal No.: 01008019005)
2. Ia Dadunashvili
(Georgian
national / Personal No.: 01018002744)
3. Teona Kupunia
(Georgian
national / Personal No.: 01024024146)
The Subject is involved
in the following activities :
Subject assists
vulnerable communities in social and economic development and strengthen their
self-resilience, provide technical assistance to local governments in
development and adaptation of advanced management systems and methodologies.
Main directions of activities are :
- Social-Economic
Development : working with the different groups of
society to improve their social-economic
conditions, through
various vocational training, economic
development and social
projects;
- Disaster
Management/DRR : working with the local communities to
increase their resilience to disasters caused
by manmade and
natural hazards and promote establishment of
strategic and
systematic approaches in disaster management
on regional and
central levels of the government;
- Gender Mainstreaming :
working with the target groups to ensure
mainstreaming of gender perspective in the
process of designing,
planning and assessing interventions both at
grassroots and
legislative levels;
- Gender : specific
actions implemented by RDFG equally enable women
and man to participate in and benefit from
development efforts;
- Youth Engagement :
working with the youth through integrating youth
engagement component in RDFG’s core
interventions acknowledging
that youth participation in problem-solving
and decision-making
builds self-confidence and ownership over
their communities’
future; the projects are designed with the
goal to give youth
opportunity to gain required education and
skills to turn them into
active citizens and promote their
participation in civil life;
- Advocacy :
facilitating empowerment of local communities to protect
their rights and advocate for their needs in
close collaboration
with local and central governments, as well
as other stakeholders
in the country;
- Peace Building :
working with the conflict affected population to
promote peace, friendship and understanding
among peoples to avoid
social, national and religious conflicts.
Subject established a
Disaster Risk Reduction Centre in 2011 to enhance local communities’ resilience
to natural hazards and to promote a culture of prevention through the provision
of coordinated and systematic approaches in disaster management at regional and
central levels. The DRR Centre has implemented several projects focusing on
school-based disaster risk reduction, local communities’ disaster management
capacity, and building and strengthening the national emergency management
system. The DRR Centre is a partner of the DIPECHO implementing organisations
(namely ACF, Oxfam and UNICEF), and in its the framework of school-based
disaster risk reduction, it has covered 27 schools in Samtskhe-Javakheti,
Imereti, Kakheti, Samegrelo, Zemo Svaneti and Gali District of Abkhazia.
Representatives of 33 communities were involved in disaster management capacity
building activities conducted by the DRR Centre in Adjara, Zemo Svaneti and
Gali District of Abkhazia. The DRR Centre partners with EMD and other
stakeholders to facilitate the improvement of the emergency management system
at central and local levels. The DRR Centre participates in the design and
revision of various guidelines, standards and templates, and promotes commonly
agreed DRR terminology.
Subject has the following Donor Organizations :
- nonprofit international and local
organizations/networks;
- governmental institutions;
- local self-governing structures;
- local households and targeted community members;
- UN Agencies;
- European Union;
- Governmental
Institutions;
- International NGOs.
Completed projects
include :
- Economic Development
for Georgia’s Internally Displaced Persons
(IDPs) through Greenhouses;
Project code :
RDFG0001EDGHIPGRT
Donor : Heifer
International in Georgia
Start date : 01 January
2011
End date : 31 December
2013
The overall goal of the
project was to improve livelihoods and economic conditions of IDPs and local residents
in 2008 conflict effected area. Three greenhouses compiling modern standards
were constructed in the targeted area serving at the same time as demonstration
plots in modern greenhouse technologies within the association’s Farmers Field
Schools (FFS). The FFS provided farmers with capacity building opportunities in
modern agricultural technologies through trainings, agronomic services,
demonstrations and practical exercises for project beneficiaries in three
villages. The project also encompassed free distribution of high productivity,
early harvest tomato seedlings to nine hundred beneficiaries.
- Economic Development
through agricultural assistance for IDP
farmers in Mtskheta-Mtianeti;
Project code :
RDFG0007EDMMBMZGRT
Donor : The Federal Ministry
for Economic Cooperation and Development
of Germany
Start date : 01 November
2011
End date : 28 February
2014
The overall goal of
phase I was to contribute to poverty reduction and to youth inclusion in
livelihood development for IDP families in Georgia. Project activities included
establishment of Farmers Regional Information Centre (Extension Service Center)
and Youth Farmers’ Centers, promotion of farmers’ union/cooperatives,
arrangement of demonstration plots and markets, provision of trainings and
consultations on agricultural development, business development DRR and Climate
Change topics within RDFG Farmers Field Schools (FFS).
NACE Code : 9499
Subject neither imports
nor exports.
The Subject has the
following facilities :
Rented premises
comprising administrative offices located at the heading address as well as a
branch office located in Gori.
T. Tabidze Street 39,
Flat No. 2
Vaki District
Tbilisi
You enquired on : “ASSOCIATION RURAL
DEVELOPMENT FOR FUTURE GEORGIA”. Please note that this name applies to an English translation of the
subject’s name. Subject’s correct registered name is as per heading.
The address given by you : “T Tabidze 39/2 Tibilisi
Gruzja” is misspelt and applies to subject's registered office address. Please
note that subject’s correct administrative office address is as per heading.
The telephone number
provided by you : “01008019005” is incorrect. Please note that subject’s
correct administrative office telephone numbers are as per heading.
Interviewed : Nata
Tsakadze (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.65.11 |
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1 |
Rs.99.50 |
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Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.