IFC to provide $4 mln to support small and medium business in Georgia
Georgia, Tbilisi, June 17 / Trend N.Kirtzkhalia /
IFC will provide "Finca Georgia," $ 4 million to help increase lending to micro and small-sized businesses with a network of branches in Georgia. This long-term investment to "Finca Georgia," will offer higher quality services and more financial products.
"For 15 years "Finca Georgia", as part of its mission, to help low-income entrepreneurs, most of whom live in rural areas," - General Director of "Finca Georgia" Vusal Verdiyev said.
"This is a project that is part of our strong relationship with IFC, that will allow us to support small and medium business that needs funding," - he said.
This project will further strengthen the partnership between IFC and "Finca International", which is one of the largest microfinance networks in the world and supports the creation and expansion of sustainable microfinance institutions.
"This investment in the microfinance sector of Georgia, aims to create new opportunities for small and medium-sized businesses and contribute to its expansion," - IFC regional manager for the South Caucasus Thomas Lubeck said.
"The project will also encourage other investors to start investing in the sector. This will greatly help to families with low income to meet basic needs and improve their quality of life," - he said.