EU bank supports SMEs in Georgia through DCFTA
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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.
These two programmes were prepared in the context of the Association Agreement (AA) of Georgia with the EU and aim to support small and medium-sized enterprises (SMEs) through a Deep and Comprehensive Free Trade Agreement (DCFTA).
The first program is the ‘DCFTA Initiative East’, which aims to strengthen economic development in the countries which have signed an association agreement with the EU – namely Georgia, Moldova and Ukraine – by providing financial and technical support targeted at SMEs in these three countries.
The overall objective of this initiative is to support economic growth and generation of employment in the three countries. It will also enhance access to finance in the form of improved lending terms and conditions and provide first loss SME portfolio guarantees, enabling local intermediary banks to take on more risk and reach out to underserved segments of the economy.
Menawhile, the second program ‘InnovFin – EU Finance for Innovators’ is a joint initiative launched by the EIB Group in cooperation with the European Commission under the EU Research and Innovation Programme Horizon 2020.
InnovFin consists of a series of integrated and complementary financing tools and advisory services offered by the EIB Group, covering the entire value chain of research and innovation (R&I) in order to support investments from the smallest to the largest enterprise.
Georgia has today signed a €450 million financing agreement with the European Investment Bank to implement three major projects that will raise living standards and boost the global competitiveness of Georgia.
The European Investment Bank (EIB) is investing €450 million in Georgia to implement three major projects.
The European Investment Bank (EIB) is promising stronger support for Georgia by doubling the amount it invests in the country in the coming years.
The European Investment Bank (EIB) is lending €22.5 million to Georgia in a bid to finance small and medium-sized enterprises (SMEs) and middle capitalisation companies (midcaps) engaged in trade and commerce in the country.
Small and medium-sized businesses in Georgia are now able to receive all information about the possibilities and benefits of free trade with the European Union (EU) through a recently launched online platform.
The European Investment Bank (EIB) is offering €250 million to help improve regional connectivity and road transport efficiency in Georgia.
A German consulting company GFA Consulting Group will help Georgia to assess the export potential of different sectors of the economy and further develop and grow exports.
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) 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.
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 Black Sea Trade and Development Bank (BSTDB) has extended a new medium-term 75 million GEL (about $30m/€25m*) loan to the Bank of Georgia aimed at supporting small and medium-sized enterprises (SMEs) in Georgia.
The seventh meeting of the EU-Georgia Parliamentary Association Committee (PAC) is being held in Tbilisi on September 18-19.