U.S. Int'l Development Finance Corporation provides financing to Bank of Georgia for SMEs support

Georgia Materials 30 November 2021 17:02 (UTC +04:00)

BAKU, Azerbaijan, Nov. 30

By Maryana Akhmedova – Trend:

Bank of Georgia received $100 million from the US International Development Finance Corporation (DFC), Trend reports via Georgian media.

The resources raised under the 11-year contract provide an opportunity to support micro, small and medium-sized businesses in Georgia, to address the economic challenges associated with the COVID-19 pandemic, and to support women entrepreneurs in their access to financial resources and increase their support.

“This is our first collaboration with DFC since 2018, and the resources enable us to continue to provide our business customers with the most needed financial products. DFC has been an important partner of the Bank of Georgia for many years. We appreciate their support for the development of the Georgian economy,” Archil Gachechiladze, the CEO of the Bank of Georgia, said.

“With the amount provided for the Bank of Georgia will strengthen micro, small and medium-sized businesses in the country, including the promotion of agriculture and women-owned businesses. All of this is important in tackling the challenges associated with the COVID-19 pandemic and promoting economic recovery,” Algene Sajery, the VP of the DFC Office of External Affairs, said.


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