EIB to help reduce COVID-19 effects on Georgian SMEs

Georgia Materials 23 October 2021 18:19 (UTC +04:00)
EIB to help reduce COVID-19 effects on Georgian SMEs

BAKU, Azerbaijan, Oct. 23

By Maryana Akhmedova – Trend:

The European Investment Bank (EIB) has provided a loan to the Georgian Terabank in the amount of 6 million euros to support micro, small and medium-sized enterprises (MSMEs) in the country, Trend reports via Georgian media.

The EIB’s SME Outreach Initiative promotes funding of MSMEs in Georgia by helping Georgian banks to offer tailor-made services and finances to their clients.

The EIB financing is aimed to reduce the impact of the COVID-19 pandemic and to contribute to an economic recovery of Georgia.

As part of Team Europe, the EIB works jointly with other EU projects implemented in Georgia under the EU4Business brand.

The EIB has already invested over 300 million euros in credit lines in Georgian businesses, sustaining more than 54,000 places of employment in the country.


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