BAKU, Azerbaijan, Nov. 22
By Maryana Akhmedova – Trend:
The EU in cooperation with the EBRD has provided the loan in the amount of 3 million euros to Georgia’s Nova construction and repair materials company, Trend reports via the press service of the EU Delegation to Georgia.
Within the EU-funded DCFTA adaptation program and Advice for Small Business (ASB) project, the Georgian company increased its energy efficiency, reduced utility costs by 15 percent, and created 30 new jobs.
“We appreciate the support we got from the EU and our cooperation with the EBRD. The company received a loan in the amount of 3 million euros, from which we could also get a 15 percent cash back. We reinvested the cashback in production development, and this helped us meet the European standards,” Edisher Khimshiashvili, Nova General Director, said.
According to the Nova General Director, the EBRD’s assistance involved international expertise that helped the company to improve its production.
The EU assistance also assisted the Georgian company in obtaining relevant certificates that would allow them to diversify their exports and enter the EU market.
Meanwhile, despite the crisis caused by the COVID-19 pandemic, Nova plans to invest about 20 million Georgian lari (5.6 million euros) in production development.
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