Sustainable financing of innovative technologies in Georgia: challenges and prospects
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Abstract
The scientific article, basis on the newest literal sources and actual materials studies the important question regarding the theory of fiscal policy as sustainable financing of innovative technologies in Georgia. There are examined global tendencies in direction of sustainable financing. In connection to this, sustainable financing is presented as unity of two important parts: (1) leading finances to such projects which would support sustainable and inclusive growth; (2) improvement of financial stability in the process of decision making by taking into consideration environmental, social and managerial factors. There is investigated course of support of sustainable financing in Georgia, besides, there is documented that National Bank of Georgia supports strengthening of the role of financial sector in sustainable development of the country and develops green, social and sustainable financing frame for this purpose. There are analyzed actions planned by National Bank of Georgia for development of sustainable development- guideline of sustainable development including four basic directions: (1) improving of consciousness and qualification; (2) flows of sustainable financing; (3) ESG risk management; (4) transparency and market discipline. Besides, there is made a conclusion on the necessity of creation of working group of sustainable development by the National Bankfor successful realization of sustainable development guideline and provision of timelyinclusion of interested parties in this process.
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