ProCredit Bank and European Investment Bank Sign Credit Line Agreement

General Director of ProCredit Bank, Asmus Rotne, and Vice President of the European Investment Bank, Lбszlу Baranyay, signed a credit line agreement on October 14th that will be used to finance small and medium-sized enterprises (SMEs) in Georgia.

The main target group of ProCredit Bank is small and medium business clients. Accordingly, resources provided by the European Investment Bank will promote the offering of attractive and competitive conditions for business loans from ProCredit Bank that will help advance and develop businesses.

The General Director of ProCredit Bank Asmus Rotne told Georgia Today they will continue to finance small and medium-sized business clients: “We believe that contribution to the development of SMEs represents the country’s economic growth and is the best way to create additional jobs. We will actively continue financing small and medium business clients with the resources provided by the European Investment Bank.”

In order to raise the competitiveness of the Georgian economy, financial resources should be available for business investment and the European Investment Bank will provide such resources.

“The competitiveness of the Georgian economy hinges, among other things, on access to finance for productive investment. The EIB will provide such funding. This will have a positive impact on the diversification of the Georgian economy and on the living standards of the country’s citizens,” stated Vice-President of the European Investment Bank, Lбszlу Baranyay.

ProCredit Bank and the European Investment Bank have been in actively cooperation since 2012. The new credit line is worth EUR 15 million, and one portion of it, EUR 5 million, will be used in the near future.

Meri Taliashvili