European Fund for Southeast Europe provides loan to Georgian bank
Baku, Azerbaijan, October 11
By Tamilla Mammadova – Trend:
The European Fund for Southeast Europe (EFSE) has provided a loan worth 10 million euros for Georgian BasisBank, Trend reports citing Georgian media outlets.
The purpose of the loan to be provided in lari is lending to individuals and facilitating mortgage lending.
The signing ceremony of the loan agreement took place on October 10 in the capital of Moldova, Chisinau.
“We are pleased that BasisBank has been added to our financialpartners. For almost 15 years, the fund has been mobilizing financial resources for enterprises and individuals in Southeast Europe, including Georgia. Thanks to our many years of experience in the local market and a responsible approach to business, we will be able to support more beneficiaries,” said EFSE Board Chairman Christoph Tiskens.
“Working with our new partner has allowed us to allocate more resources for retail lending. Another great advantage of our cooperation with EFSE is that the loan is issued in national currency, which is valuable for the development of the country's economy and for our customers. We believe that our cooperation with the fund will be successful and long-lasting,” said General Director of BasisBank David Tsaava.
BasisBank founded in 1993 is the fifth largest commercial bank in Georgia.
The European Fund for Southeast Europe works to boost economic development in the Southeast Europe and in the European Eastern Neighborhood regions through the provision of additional development finance, via qualified financial institutions, to micro and small enterprises and private households.