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Small Georgian businesses to benefit from new credit guarantee programme

Georgian PM Bakhtadze said that the EU helped the government create the credit guarantee programme. Photo: Gov't of Georgia.

Agenda.ge, 01 Feb 2019 - 16:39, Tbilisi,Georgia

Small and medium sized businesses in Georgia will have better access to finances thanks to a new credit guarantee programme that will be launch in the first quarter of 2019, Georgian Prime Minister Mamuka Bakhtadze announced today.

This is an innovative mechanism for our economy. I have very high expectations that it will help us to increase the share of small and medium business in our economy… The most painful challenge for us is poverty and overcoming poverty is possible only increasing the share of small and medium sized business in economy”, said Bakhtadze.

He said that the credit guarantee programme will support small and medium sized businesses which operate in sectors where loan issuance is restricted, or do not have enough property for securing a loan.

Bakhtadze said that the European Union helped the government create the credit guarantee programme.

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