EBRD grants Georgian Bank $20 million to stimulate small and medium business
Georgia, Tbilisi, July 27 / Trend N. Kirtskhalia /
The European Bank for Reconstruction and Development allocated Georgian Bank $20 million to loan small and medium business, director general of Georgian Bank, Irakli Gilauri, and director of EBRD in Caucasus, Moldova and Belarus, Paul-Anri Forester, said a press-conference on July 27.
Gilauri said that funds allocated by the EBRD are envisaged fir corporative clients. They will be mainly envisaged for loaning small and medium business. He said that EBRD loan is given for 8 years. It is continuation of financial aid to the amount of $5 million given for Georgian Bank before.
'These funds will allow companies to expand business and intensify capital investments. EBRD aid is another evidence of high trust in Georgian commercial banks," Gilauri said.
Forester said that decision on financing small business is correct as medium business is very viable in Georgia.
"Georgian Bank is leading bank. It needs support in this hard time. This loan is part of fruitful cooperation that connects EBRD with Georgian Bank," Forester said.
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