Bank of Georgia Holds Info Meeting on EU-EBRD Loan Opportunities

This week, Bank of Georgia held an information event for their small and medium size business (SME) clients to share opportunities to receive by loans and grants funded by the EU4Business-EBRD (European Bank for Reconstruction and Development) Credit Line.

Nearly 150 people attended the event, representing commerical and industrial companies from a variety of industries.

Tamar Khizanishvili, Head of Corporate Banking at BoG, opened the event with remarks, explaining the importance of cooperative deals with the European Union, specifically the Association Agreement (AA) and the Deep and Comprehensive Free Trade Area (DCFTA). Khizanishvili also discussed the ways the EU4Business-EBRD Credit Line helps companies invest in processes and equipment to be able to benefit from the AA and DCFTA by giving out loans and grants. Such programs help SMEs develop their capacity and gain advantages in the domestic market as well as expanding their export potential. 

Through the EU4Business-EBRD Credit Line, Georgian companies can access finance to modernize their equipment, enhance workplace safety practices and upgrade sanitary conditions. Within the EU4Business initiative, the funding offered by the EBRD is complemented with an EU grant of up to 15% and technical assistance engaging local and international expertise.

The attendees were actively engaged in the event, and several showed particular interest in learning how to apply for a loan or grant. One meat processing company, reports EU Neighbors, applied for a loan immediately after the event.

For more information on the Credit Line, click here.

By Samantha Guthrie

Photo: EU4Business