European bank signs three deals, offers 280m GEL to Georgian business
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The European Investment Bank (EIB) have signed three agreements which will make available up to 280 million GEL (about $103.24m/€87.35m*) to Georgian small and medium enterprises (SMEs).
The first agreement was signed with Credo Bank. It will activate a 12 million GEL (about $ 4.42m/€3.74m*) credit line for Georgian micro and small enterprises (MSEs – business with less than ten employees) particularly in rural areas and with a focus on women entrepreneurs.
The other two agreements were signed with TBC Bank and include an agreement to provide up to 240 million GEL (about $88.50m/€74.87m*) of loans to innovative Georgian companies over the next two years.
Also the agreements include an additional 42 million GEL (about $15.49m/€13.10m*) financing specifically for small loans to SMEs, to sustain jobs and create new business opportunities in Georgia.
All agreements are made possible with financial assistance from the European Union's Innovfin and EU4Business programmes.
*Currency conversions reflect National Bank of Georgia values as of today.
The European Investment Bank (EIB) and the European Investment Fund (EIF) – jointly the EIB Group – will allocate €100 million in loands to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine.
Georgia’s Prime Minister Giorgi Kvirikashvili hosted today the Vice-President of the European Investment Bank (EIB), Vazil Hudak, at the Administration of the Government of Georgia.
The European Investment Bank (EIB) is offering €250 million to help improve regional connectivity and road transport efficiency in Georgia.
The European Investment Bank (EIB) and the European Investment Fund are implementing two new programmes in Georgia which have been developed jointly with the European Commission.
Cooperation between Georgia and European Investment Bank (EIB), and Georgia’s ongoing and forthcoming projects were among the issues Prime Minister Giorgi Kvirikashvili and EIB Vice-President Vazil Hudak discussed today.
The European Investment Bank (EIB) is offering an additional €250 million to help improve regional connectivity and road transport efficiency in Georgia. The EIB has already provided over €500 million for implementation of the ‘Georgian Transport Communication Project’.
The European Investment Bank (EIB) has lent €30 million to Georgia’s TBC Bank to broaden access to financing for small and medium-sized enterprises in the country (SMEs), which represent about 90 per cent of companies active in the country.
The European Union (EU) and the European Investment Bank (EIB) are starting a new project with a total budget of €6,136,000 to contribute to Georgia’s road infrastructure development.
The Green for Growth Fund (GGF) has provided a loan of 10 million USD to Georgia’s Basisbank for supporting energy efficiency lending to large and medium-sized companies in the agriculture and construction sectors. The synthetic GEL loan will enable BasisBank to on-lend to eligible Georgian businesses in local currency without bearing exchange rate risk upon repayment to GGF.
The European Investment Bank (EIB) and the government of Georgia have signed a deal on the allocation of €250 million loan for “vitally important” infrastructure projects in Georgia, the government of Georgia says.