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EBRD reports its activities in Georgia for 2019

Business Materials 9 July 2020 17:50 (UTC +04:00)
EBRD reports its activities in Georgia for 2019

BAKU, Azerbaijan, July 9

By Tamilla Mammadova – Trend:

The European Bank for Reconstruction and Development (EBRD) summed up its activities in Georgia in its Annual Review for 2019, Trend reports citing the bank.

In particular, the bank highlighted its cooperation with GRC, a leading supplier to the construction industry in Georgia.

"GRC used loan equivalent to 1.9 million euros to establish a new production line for structural steel goods," the EBRD said.

As the bank noted, the loan was split evenly with TBC Bank, a local financial institution, under the EBRD’s Risk-Sharing Framework, which increases access to finance for small and medium-sized enterprises (SMEs) like GRC and boosts their competitiveness.

According to the review, the European Bank for Reconstruction and Development invested 296 million euros in Georgia’s economy during 2019, and has an active portfolio in the amount of 995 million euros. In 2018, EBRD invested 267 million euros, in 2017 - 271 million euros, in 2016 - 248 million euros, and in 2015 - 116 million euros.

In overall, EBRD invested 10.1 billion euros through 452 projects world-wide in 2019. Of that financing, an unprecedented 46 percent, or 4.6 billion euros, was invested in 'green economy'.

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