European Investment Bank to Support SMEs in Georgia

TBILISI – The European Investment Bank (EIB) has decided to financially support small and medium-sized businesses (SMEs) in Georgia via local commercial banks in September-October, according to Georgia’s Economic Adviser to the President Maya Melikide.

The banks that will be involved in the financing include Bank Republic, TBC Bank, ProCredit Bank and the Bank of Georgia.

Melikidze finalized the agreement after she met with EIB representatives last week to discuss the conditions for supporting the development of Georgia’s small and medium enterprises.

She said the EIB agreed to actively take part in the financing of local SMEs, but business owners would be required to meet the current stringent conditions required to gain initial capital.

By Eka Karsaulidze

Edited by Nicholas Waller