French financial institution provides funding for SMEs in Georgia

Georgia Materials 1 February 2022 12:40 (UTC +04:00)
French financial institution provides funding for SMEs in Georgia

BAKU, Azerbaijan, Feb. 1

By Maryana Akhmedova – Trend:

Georgia’s TBC Bank and Proparco, a Development Finance Institution (partly owned by the French Development Agency), have signed a $50-million loan agreement for small and medium-sized businesses (SMEs) support in Georgia, Trend reports via the press service of Proparco.

The loan agreement provided to TBC Bank is aimed at SMEs financing in various sectors, including hotel and leisure, agriculture and trade, which will further lead to new jobs creation.

“This agreement reaffirms the readiness of both parties to support the financing of SMEs and to contribute to economic growth and employment in Georgia. This loan agreement is the second successful partnership of TBC Bank with Proparco,” Vakhtang Butskhrikidze, the CEO of TBC Bank, said.

“We are glad to renew our collaboration to support the Georgian SMEs sector. It will support and encourage the Bank’s strategy towards SMEs, and strengthen the partnership started between our institutions 10 years ago,” Stéphane Froissardey, Proparco Regional Director for Turkey, Caucasus, Central Asia, Balkans and Eastern Europe, said.


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