BAKU, Azerbaijan, Oct. 26
By Maryana Akhmedova – Trend:
The European Fund for Southeast Europe (EFSE) is providing a loan to the Georgian TBC bank in the amount of $10 million to support micro, small and medium-sized businesses (MSMEs) in Georgia, Trend reports via the Fund.
“We are proud to strengthen our longstanding partnership with TBC Bank. Their strong performance, and especially their resilience throughout the recent health crisis have been very impressive,” EFSE Board Chairperson Klaus Muller said.
“We are delighted to continue a trusted and successful partnership with EFSE. This facility is another testimony of our efforts to support micro, small and medium-sized enterprises (MSMEs) in rural and urban areas in Georgia and provide financing for local currency loans, which are in high demand. We look forward to more years of productive partnership,” Vakhtang Butskhrikidze, General Director of TBC Bank said.
Through this investment, TBC Bank will contribute to the UN Sustainable Development Goals – Decent work and economic growth, and Industry, Innovation and Infrastructure.
The European Fund for Southeast Europe (EFSE), founded in 2005, aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighborhood Region by investing in the success of micro and small enterprises as well as improved living conditions for private households.
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