European investment Bank to support small businesses in Georgia

2020/08/52130-1596784787.jpg
Read: 666     11:00     07 Август 2020    

The European investment Bank (EIB) will provide a loan of 10 million euros to a Bank in Georgia to provide more affordable credit to micro, small and medium-sized enterprises (MSMEs), mainly from the agricultural sector.

This is the second loan allocated under the EIB's Georgia Outreach Initiative. Launched in December 2019, the initiative aims to increase financial inclusion and access to Finance for under-supported MSMEs in Georgia by helping smaller banks improve their service offerings.

The credit line from the EU Bank will be available to MMPs in the local currency of so-called "synthetic currency pairs" to protect recipients of credit funds from devaluation. The EU grant will Supplement the EIB's credit line for promoting local currency financing and cover part of the costs associated with currency exchange risks.

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European investment Bank to support small businesses in Georgia

2020/08/52130-1596784787.jpg
Read: 667     11:00     07 Август 2020    

The European investment Bank (EIB) will provide a loan of 10 million euros to a Bank in Georgia to provide more affordable credit to micro, small and medium-sized enterprises (MSMEs), mainly from the agricultural sector.

This is the second loan allocated under the EIB's Georgia Outreach Initiative. Launched in December 2019, the initiative aims to increase financial inclusion and access to Finance for under-supported MSMEs in Georgia by helping smaller banks improve their service offerings.

The credit line from the EU Bank will be available to MMPs in the local currency of so-called "synthetic currency pairs" to protect recipients of credit funds from devaluation. The EU grant will Supplement the EIB's credit line for promoting local currency financing and cover part of the costs associated with currency exchange risks.

apsny.ge





Tags: