EBRD to continue to support Georgian SMEs
Baku, Azerbaijan, October 7
By Tamilla Mammadova – Trend:
The European Bank for Reconstruction and Development (EBRD) will continue to support Georgian SMEs, said First Vice President of the European Bank for Reconstruction and Development Jürgen Rigterink, Trend reports citing Georgian media.
“We believe that the sector of small and medium business in Georgia, as in any other country, is the basis of the economy. However, for us, having only one office in Georgia with only 35 employees, it is very difficult to get direct access to all enterprises in this sector. Therefore, we do this together with our partners - with commercial banks, which are intermediaries in our financing,” Rigterink explains.
According to him, the Georgian economy is very diversified, which means that the bank must be active in many areas.
“It should be noted the high level of cooperation between the EBRD and Georgia.To date, we have invested 3.4 billion euros in Georgia under 235 projects. This is really impressive, and Georgia leads in the ratio of invested capital per capita among our countries,” said Rigterink.
(1 USD=2.96 GEL on October 7)