TBC Bank in Georgia to receive EBRD and EU funding to boost small companies

Published in Economics
Friday, 22 October 2021 10:31

The EBRD will provide a €25 million loan to the TBC Bank in Georgia for on-lending to local firms. At least 70 per cent of this funding aims to help micro-, small, and medium-sized enterprises (MSMEs) in Georgia become greener and more competitive.

The EU will complement the loan with grants and free technical assistance for those who borrow, under its EU4Business initiative.

The package will allow companies to upgrade their products and services and bring them in line with EU standards. It will also modernise their production and assist them to operate more successfully in foreign markets.

The support is being extended under the EU4Business-EBRD Credit Line, a joint financing instrument available in Armenia, Georgia, Moldova and Ukraine, which aims to make local firms greener and more competitive. Since the launch of the programme in 2016, 170 Georgian companies have benefited from the scheme.

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