TBC Bank raised funds for lending to small businesses in Georgia
The purpose of the financing is to preserve jobs, liquidity and business operations in Georgia, as well as to help the economy recover. To help small and medium-sized businesses during the COVID-19 pandemic, the European investment Bank (EIB) will increase the credit line in Georgia's TBC Bank to 81 million euros, the EIB said in a statement.
The investment is part of the European team's emergency response to the COVID-19 pandemic, which aims to help preserve jobs, liquidity and business operations in Georgia, as well as help the economy recover.
The EIB, which is a long-term lending institution of the European Union, will provide investments of 25 million euros for small and medium-sized enterprises of Georgia and enterprises with medium capitalization to increase the credit line in TBC Bank. Loans will be available in various currencies, including the national currency of Georgia, lari.
This resource will help the country's economy to recover from the crisis caused by the coronavirus pandemic. Money will become a new capital in the Georgian economy and will help solve many problems of businessmen, making Finance more accessible to entrepreneurs.
"The resource provided by the EIB will help small and medium-sized enterprises in Georgia, as well as its financial sector, and, despite the pandemic, will allow them to continue their activities and develop the Georgian economy. This means that we will save jobs and income," – said Vice-President of EIB, head of operations in Georgia Theresa Cerviche.
This is the fourth loan agreement between TBC Bank and the EIB.
To date, the EU Bank has invested more than 330 million euros in credit lines for Georgian SMEs and mid-cap companies, supporting more than 54 thousand jobs in the country.
Since 2007, the Bank of the European Union has invested up to 2 billion euros in all major sectors of the Georgian economy, including support for transport communications, healthcare, and small and medium-sized enterprises.
sputnik-georgia.ru
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TBC Bank raised funds for lending to small businesses in Georgia
The purpose of the financing is to preserve jobs, liquidity and business operations in Georgia, as well as to help the economy recover. To help small and medium-sized businesses during the COVID-19 pandemic, the European investment Bank (EIB) will increase the credit line in Georgia's TBC Bank to 81 million euros, the EIB said in a statement.
The investment is part of the European team's emergency response to the COVID-19 pandemic, which aims to help preserve jobs, liquidity and business operations in Georgia, as well as help the economy recover.
The EIB, which is a long-term lending institution of the European Union, will provide investments of 25 million euros for small and medium-sized enterprises of Georgia and enterprises with medium capitalization to increase the credit line in TBC Bank. Loans will be available in various currencies, including the national currency of Georgia, lari.
This resource will help the country's economy to recover from the crisis caused by the coronavirus pandemic. Money will become a new capital in the Georgian economy and will help solve many problems of businessmen, making Finance more accessible to entrepreneurs.
"The resource provided by the EIB will help small and medium-sized enterprises in Georgia, as well as its financial sector, and, despite the pandemic, will allow them to continue their activities and develop the Georgian economy. This means that we will save jobs and income," – said Vice-President of EIB, head of operations in Georgia Theresa Cerviche.
This is the fourth loan agreement between TBC Bank and the EIB.
To date, the EU Bank has invested more than 330 million euros in credit lines for Georgian SMEs and mid-cap companies, supporting more than 54 thousand jobs in the country.
Since 2007, the Bank of the European Union has invested up to 2 billion euros in all major sectors of the Georgian economy, including support for transport communications, healthcare, and small and medium-sized enterprises.
sputnik-georgia.ru
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