BAKU, Azerbaijan, December 4. The Black Sea Trade and Development Bank (BSTDB) is deepening its partnership with Basisbank by providing a $15 million SME facility aimed at boosting the growth of small and medium-sized enterprises (SMEs) in Georgia, Trend reports via the BSTDB.
This financing will enhance Basisbank’s ability to support local businesses, offering much-needed funds for investment and working capital, ultimately driving economic development and trade across the country.
Since 2012, BSTDB and Basisbank have collaborated on various financing initiatives, including trade finance and SME loans, amounting to over $183 million. This ongoing partnership has significantly contributed to job creation, income growth, and increased trade turnover in Georgia.
“We are pleased to expand our cooperation with Basisbank, a trusted partner and a key player in Georgia’s financial sector,” said Dr. Serhat Köksal, President of BSTDB. “This new SME facility underscores our commitment to enhancing economic resilience by empowering small and medium-sized enterprises — the backbone of the Georgian economy. Together, we are laying the groundwork for sustained economic progress and regional development.”
David Tsaava, General Director of JSC Basisbank, emphasized the importance of the partnership: “We are delighted to continue our collaboration with BSTDB in supporting Georgian SMEs. This new facility will not only help meet the financial needs of small businesses but also contribute to the overall growth of the private sector, a crucial pillar of economic development. We deeply value our partnership with BSTDB and look forward to future projects that will further strengthen Georgia’s economy.”
As Georgia’s third-largest bank in business finance and the fourth-largest in retail services, Basisbank holds a 5% market share and provides comprehensive banking, insurance, and leasing services across the country. Its collaboration with international financial institutions positions it as a key player in the Georgian financial landscape, fostering partnerships with global banks and investment funds.
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