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.

1. 1.       COVID hit my business badly. Where can I get some financing to recover?

The EU offers financing and guarantees to local financial institutions to unlock lending. This makes it possible for the local lender to provide more affordable financing to SMEs. For instance, you could benefit from lower-interest loans, longer repayment terms, lower collateral requirements, including some loans based in lari instead of foreign currencies. Check what these banks in Georgia have to offer under the EU4Business Initiative:Microfinance Organisation Crystal, Basisbank, Bank of Georgia, TBC Bank, TBC Leasing.

Here are some examples of SME owners who benefited:

Natia Khelaia, CFO at Food Alliance, a company offering high-quality frozen pastry, received a loan of through the EU4Business-EBRD Credit Line, which includes a 15% cash-back incentives funded under the EU4Business initiative. This enabled the company to add necessary inventory and equipment to its factory, expanding production while increasing efficiency by 50%. 

Mikheil Melua expanded production capacity of his bay leaf production company Black Sea Laurus, acquired modern equipment, and established food safety standards in line with EU practice with support from the EU4Business-EBRD Credit Line. As a result, Black Sea Laurus generated 8 new permanent and some 100 seasonal local jobs, and launched exports to European markets, doubling production and income both.

1. 2.       How do I apply for a bank loan? What are the requirements?

The EU offers a wide range of options for different types of SMEs. For instance, the EU provides concessionary loans to underserved micro-enterprises and low-income households as well as SMEs in the agri-food sector, manufacturing, services, real estate. There are also attractive opportunities for the businesses seeking to boost trade with the EU and upgrade their businesses to the EU standards as well as for the women-led SMEs.

You can check the conditions for the EU partner banks on the EU4Business website and just call the bank directly. Remember to mention the programme. Very simple!

1. 3.       I’ve heard about loans, but are grants also available to small companies?

Yes, there are!

For instance, the most efficient and sustainable local solutions to improve food production and reduce rural poverty may get grants under the ENPARD III programme implemented by the UNDP.

1. 4.       The pandemic showed that there is sustainable demand for my business. How can I get knowledge, advice and skills needed to scale up my business?  

To support SMEs like yours, the EU assists local business associations and agencies, leading to SME growth. Just check all available business development opportunities, pick the one that suits your needs, and get in touch directly with the organisation!

Under the project “EU Innovative Action for Private Sector Competitiveness in Georgia”, nursery owners can attend a series of trainings and workshops to receive practical knowledge on how to align the Georgian production of seedlings with the international standards and best practices of European countries.

The EU project “Green Economy: Sustainable Mountain Tourism and Organic Agriculture” (GRETA), offers support to local initiatives in sustainable gastronomic tourism and organic agriculture. Local businesses can get the relevant knowledge, find out about opportunities of cooperation and earning income, and make new contacts.

Under the ENPARD III project, farmers, rural households, cooperatives and other small and medium enterprises in rural areas can apply for access to better services and inputs. They can benefit from pilot activities for farmers including various types of demonstration, information dissemination, and training.

If you own a business in the construction, tourism or apparel sectors, the Clusters 4 Development – Better Business Sophistication in Georgia project implemented by the GIZ might be of interest to you. It helps increase SME competitiveness through the development of clusters.

If you want to improve your coding and tech entrepreneurship skills, the Development of youth coding and tech entrepreneurial club networks programme may be for you – during the next 3 years, tech clubs will appear in 100 locations across 8 regions of Georgia.

Women-led businesses can benefit from the EU4Business Women in Business Advisory Programme implemented by the EBRD to access know-how to transform their businesses. This covers a wide range of topics, from the technical knowledge to build a website, for example, or to introduce a quality management system that meets ISO standards, improve energy efficiency or improve Human Resources management. These usually involve working with qualified local consultants with a portion of the net costs reimbursed.

Alongside financial support, the following programmes provide consultancy and business development opportunities for SMEs to better utilise the free trade opportunities: DCFTA Initiative East by EIB supports SMEs in the agri-food sector, and the DCFTA Programme by EBRD may help you to resolve the challenges in utilising the opportunities offered by the DCFTA. The DCFTA SME Direct Finance Facility helps SMEs identify quality capital investment projects.

You can even make sure your voice is heard in the national reform process and help your government to better understand issues affecting SMEs like yours! Just check the business enabling environment activities in Georgia supported by the EU.

1. 5.       I think exporting to the EU could help my business recover. Where do I start?

Indeed, that’s a great way to scale up your business! And we have something interesting to offer.

The EU4Business: Connecting Companies project supports SMEs with exports going to EU countries. You can apply for training, coaching and even matchmaking with businesses in the EU.

The EU4Business Eastern Partnership Trade Helpdesk will facilitate you in identifying trade obstacles and better understanding regulatory and procedural issues in trading goods and services. Soon, this one-stop-shop online platform will be available that will offer access to trade information (tariffs, non-tariff measures, taxes, trade statistics and procedures).

Alongside financial support, the following programmes provide consultancy and business development opportunities for SMEs to better utilise the free trade opportunities: the DCFTA Initiative East by EIB supports SMEs in agri-food sector, and the DCFTA Programme by EBRD may help you to resolve the challenges utilising the opportunities offered by the DCFTA. The DCFTA SME Direct Finance Facility helps SMEs identify quality capital investment projects.

 1.6.       Are there SMEs like me that got help?

There are more than you can imagine!

Between 2019-2020, 55,181 SMEs in Georgia received support through the EU4Business Initiative. Among those, a total of 5,621 entrepreneurs received loans for a total value of €307.25 million under EU programmes that support SMEs. Over 48,642 consultancy services were delivered to SMEs. The income of these supported SMEs rose by 9.4% in 2020 amounting to almost €69.86 million, and 10,055 new jobs were generated as a result of this support in 2020 alone.

Here are some success stories from SMEs like yours:

Gano Melitaurireceived EU4Business support to procure new sewing equipment in the middle of the pandemicso that her company Kombinezona did not have to halt production. Instead, they shifted their focus to making antibacterial face masks and protective gear, were able to employ more people, and distributed a good number of free masks.

Baia Saluqvadze and Levan Bolqvadze, co-founders of Agritrade,purchased a new calibration line, a vertical elevator, and conveyor with the support from the Food and Agriculture Organisation of the United Nations (FAO) and the EU as part of its ENPARD and EU4Business Initiative. Agritrade’s Kakheti hazelnuts can now be directly exported to China, generating more export opportunities.

Click here for more success stories to learn about Georgian SMEs that are doing business in many different areas and have benefitted from EU support.

 The material is prepared within the project "EU NEIGHBOURS east"

• Three novels in English translation by Nana Ekvtimishvili (Georgia), Szczepan Twardoch (Poland) and Matei Vişniec (Romania) shortlisted for €20,000 prize
• Winner announced on 1 June 2021

Three novels have been announced as the finalists of the fourth EBRD Literature Prize, a €20,000 award launched in 2017 by the London-based European Bank for Reconstruction and Development (EBRD), in collaboration with the British Council.

The EBRD Literature Prize celebrates the very best in translated literature from the almost 40 countries where the Bank invests, from Central and eastern Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean.

The €20,000 Prize is awarded to the best work of literary fiction originally written in a language from one of these countries, which has been translated into English and published by a UK or a Europe-based publisher.

The three finalists for this year’s Prize, in alphabetical order, by author, are:

• The Pear Field by Nana Ekvtimishvili, translated by Elizabeth Heighway (Peirene Press). Language: Georgian. Country: Georgia.
• The King of Warsaw by Szczepan Twardoch, translated by Sean Gasper Bye (Amazon Crossing). Language: Polish. Country: Poland.
• Mr K Released by Matei Vişniec, translated by Jozefina Komporaly (Seagull Books). Language: Romanian. Country: Romania.

The EBRD Literature Prize is one of the few international literature prizes which recognises both author and translator in equal measure: the winning title will receive the top prize of €20,000, which will be split evenly between the author and the translator, and the two runner-up titles will receive €8,000, similarly divided.

The winner of the EBRD Literature Prize 2021 will be announced on 1 June.

Toby Lichtig, Chair of Judges, said, “I and my fellow judges are delighted with this list of finalists, which attests to the boundless ingenuity of the human literary imagination. A kafkaesque fable about Romania’s transition from Communism to democracy; a hard-hitting evocation of 1930s Warsaw, complete with Jewish gangsters, street slang and hopes for a better future; a beautiful, brutal and life-affirming tale about the bonds of child friendship, and scars of adult neglect, in a Tbilisi “school for the intellectually disabled” – each of these novels is, in its own way, compelling, shocking, enchanting, memorable, brilliantly rendered and entirely original.”

Read the Judges’ reviews of the three shortlisted titles

The independent panel of judges for this year’s Prize chose the three finalists from 10 longlisted titles, announced on 11 March. The longlisted titles, in alphabetical order by author, were:

Love in the Days of Rebellion by Ahmet Altan, translated by Brendan Freely and Yelda Türedi (Europa Editions). Language: Turkish. Country: Turkey.

The Pear Field by Nana Ekvtimishvili, translated by Elizabeth Heighway (Peirene Press. Language: Georgian. Country: Georgia.

Grey Bees by Andrey Kurkov, translated by Boris Dralyuk (MacLehose Press, an imprint of Quercus). Language: Russian. Country: Ukraine

Carbide by Andriy Lyubka, translated by Reilly Costigan-Humes and Isaac Stockhouse Wheeler (Jantar Publishing Ltd). Language: Ukrainian. Country: Ukraine

Hana by Alena Mornštajnová, translated by Julia and Peter Sherwood (Parthian Books). Language: Czech. Country: Czech Republic.

No-Signal Area by Robert Perišić, translated by Ellen Elias-Bursac (Seven Stories Press). Language: Croatian. Country: Croatia.

The Highly Unreliable Account of the History of a Madhouse by Ayfer Tunç translated by Feyza Howell (Istros Books). Language: Turkish. Country: Turkey.

The King of Warsaw by Szczepan Twardoch, translated by Sean Gasper Bye (Amazon Crossing). Language: Polish. Country: Poland.

Mr K Released by Matei Vişniec, translated by Jozefina Komporaly (Seagull Books). Language: Romanian. Country: Romania.

Your Ad Could Go Here by Oksana Zabuzhko, translated by Nina Murray, Marta Horban, Marco Carynnyk, Halyna Hryn, and Askold Melnyczuk

(Amazon Crossing). Language: Ukrainian. Country: Ukraine.

The EBRD Literature Prize is a project of the Bank’s Community Initiative, a programme which provides a framework for the engagement of staff and the institution in philanthropic, social and cultural activities in the regions where the Bank works.

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Source: https://www.ebrd.com/news/2021/-ebrd-literature-prize-2021-finalists-announced.html

The news prepared in the framework of the EU project "EU NEIGHBOURS east"

• The Prize recognises the best works of literary fiction from the EBRD’s regions translated into English
• Longlist features work translated from eight languages
• Winner of €20,000 prize to be announced in May

The EBRD Literature Prize 2021, launched by the European Bank for Reconstruction and Development to promote translated literary fiction from its regions of operations, announces its selected longlist today. 

This is now the fourth year of the EBRD Literature Prize which celebrates the very best in translated literature from the nearly 40 countries where the Bank invests: from central and eastern Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean.

The €20,000 Prize is awarded to the best work of literary fiction originally written in a language from one of these countries, which has been translated into English and published by a UK or a Europe-based publisher.

The international prize was created in 2017 by the EBRD with funding provided by the members of the EBRD, in cooperation with the British Council. It is one of the few international literature prizes which recognises both author and translator in equal measure.

The independent panel of judges for the EBRD Literature Prize 2021 has selected 10 novels that they consider outstanding works of storytelling. In total, eight languages feature on the selected longlist, which represents a fascinating mix of cultures from across the EBRD regions of operations.

Toby Lichtig, Chair of the Judges, said: “Given the diversity of territories covered by the EBRD, it is perhaps unsurprising how varied and culturally rich this longlist is, both thematically and stylistically. The ten books move us from 1930s Warsaw to 1950s Czechoslovakia to contemporary Ukrainian no man’s land; from a Kafakaesque tale of judicial injustice to an absurdist tragicomedy of human smuggling; from the dying days of the Ottoman Empire to an alternative Balkans hauling itself into the present day. Taken together, they give a picture of an Eurasian region riven with the scars of war and displacement, cruelty and carelessness, and teeming with human resilience and ingenuity. And love. Each book is unique, each translation brilliantly realised.”

The longlist titles, in alphabetical order by author, are:

Love in the Days of Rebellion by Ahmet Altan, translated by Brendan Freely and Yelda Türedi (Europa Editions). Language: Turkish. Country: Turkey.

The Pear Field by Nana Ekvtimishvili, translated by Elizabeth Heighway (Peirene Press. Language: Georgian. Country: Georgia.

Grey Bees by Andrey Kurkov, translated by Boris Dralyuk (MacLehose Press, an imprint of Quercus). Language: Russian. Country: Ukraine

Carbide by Andriy Lyubka, translated by Reilly Costigan-Humes and Isaac Stockhouse Wheeler (Jantar Publishing Ltd). Language: Ukrainian. Country: Ukraine

Hana by Alena Mornstajnova, translated by Julia and Peter Sherwood (Parthian Books). Language: Czech. Country: Czech Republic.

No-Signal Area by Robert Perisic, translated by Ellen Elias-Bursac (Seven Stories Press). Language: Croatian. Country: Croatia.

The Highly Unreliable Account of the History of a Madhouse by Ayfer Tunc, translated by Feyza Howell (Istros Books). Language: Turkish. Country: Turkey.

The King of Warsaw by Szczepan Twardoch, translated by Sean Gasper Bye (Amazon Crossing). Language: Polish. Country: Poland.

Mr K Released by Matei Visniec, translated by Jozefina Komporaly (Seagull Books). Language: Romanian. Country: Romania.

Your Ad Could Go Here by Oksana Zabuzhko, translated by Nina Murray, Marta Horban, Marco Carynnyk, Halyna Hryn, and Askold Melnyczuk

(Amazon Crossing). Language: Ukrainian. Country: Ukraine.

The EBRD Literature Prize is a project of the Bank’s Community Initiative, a programme which provides a framework for the engagement of staff and the institution in philanthropic, social and cultural activities in the regions where the Bank works.

The Chair of the Community Initiative, Kazuhiko Koguchi, said today: The Literature Prize reminds us of the wealth of creativity and cultures across our regions of operations, and highlights the role of storytelling in connecting us all and building bridges across borders.

The finalists (three authors and their translators) of the EBRD Literature Prize 2021 will be announced on 3 May 2021. All will be invited to attend the award ceremony later that month (date to be determined), where the winner of the EBRD Literature Prize 2021 will be announced.

The news prepared in the framework of the EU project "EU NEIGHBOURS east"

The European Bank for Reconstruction and Development (EBRD) will enhance its advisory services in Georgia to support local small and medium-sized enterprises (SMEs) in digitalisation and access to capital markets during the COVID-19 crisis. Together with Team Europe, the EBRD aims to increase the resilience and agility of the private sector.

Backed by €1.8 million in EU funding, the EBRD will help local firms with their digital transformation to avoid interruptions to their operations because of the pandemic and rebuild their businesses with a focus on sustainable and green practices. The previous phase of funding supported strengthening the competitiveness of the country’s SME sector.

In parallel, the EBRD will assist the National Bank of Georgia with the design and implementation of support mechanisms facilitating access to capital markets – both debt and equity – for local corporates, including SMEs. Targeted support will enhance Georgian companies’ preparedness for capital markets, broaden their funding sources and help attract financing from domestic and international investors. Companies can receive tailor-made advisory services and technical support to improve their corporate governance, transparency and credit rating to source investments across capital markets.

The announcement follows the new EBRD President Odile Renaud-Basso’s first visit to Georgia on 1 and 2 February.

The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested more than €4.2 billion in 262 projects in the financial, corporate, infrastructure and energy sectors.

The news prepared in the framework of the EU project "EU NEIGHBOURS east".

The population of Bakuriani, a city in the Borjomi municipality of Georgia, will benefit from improved public transport and services thanks to a €5 million loan provided by the European Bank for Reconstruction and Development (EBRD).

The financing will help to acquire special vehicles for street cleaning, snow removal and waste collection, as well as to purchase multi-purpose trucks, and 10 modern buses for passenger transport.

The new low-floor buses will considerably reduce emissions in this popular mountain and ski resort and offer more comfortable journeys. The EBRD is also providing technical cooperation funding aimed at training and promoting women for bus-driver roles.

Bakuriani is a small town in the central part of the country. It is one of the most-visited mountain and ski resorts in Georgia and famous for its climate and natural environment.

The technical cooperation will make recommendations for safe, accessible and inclusive transport that integrates the needs of passengers into urban transport services. Additional technical assistance funded by the donors of the Early Transition Countries Fund (Canada, Finland, Germany, Ireland, Japan, South Korea, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom) will help the company improve its corporate development.

“This project will help to improve the quality of municipal services and safety measures in an important resort town. Improving Georgia’s municipal infrastructure, especially in the regions, is of paramount importance for the EBRD. The project will also help promote gender equality across the workforce,” said Catarina Bjorlin Hansen, EBRD Regional Director for the Caucasus.

The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the Bank has invested over €3.8 billion in 252 projects there, in the financial, corporate, infrastructure and energy sectors, with 89 per cent of these investments in the private sector.

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Source: https://www.ebrd.com/news/2020/ebrd-to-finance-modern-municipal-infrastructure-in-bakuriani-georgia.html

On 21 May, the Parliament of Georgia adopted key energy efficiency legal acts: the Law on Energy Efficiency and the Law on Energy Performance of Buildings, which transpose the EU Directives in this field. Georgia has continued to implement electricity by-laws according to schedule, even during the COVID-19 pandemic.

By adopting the two laws, the Government of Georgia is given the opportunity to receive significant investments in public building renovation programmes, amounting to €80 million from the European Bank for Reconstruction and Development (EBRD) and German Bank KfW, €26 million in investment grants and €8.5 million in technical assistance from the EU. Georgia will get an additional €150 million in a policy-based loan tranche from KfW and the French Agency for Development (AFD) for the implementation of reforms.

"The new framework will not only make Georgia's building industry more competitive, but also its households better supplied with energy services, and its building stock better insulated. It will boost the usage of greener energy sources for heating, cooling and lighting," said Violeta Kogalniceanu, Head of the Energy Efficiency Unit at the Secretariat.

The laws were developed under the coordination of the Ministry of Economy and Sustainable Development of Georgia in close cooperation with the Secretariat, and with technical assistance provided by the EU supported project EU4Energy for the Buildings Law and by the EBRD for the Energy Efficiency Law.

Source: https://www.euneighbours.eu/en/east/stay-informed/news/eu4energy-georgia-adopts-two-key-energy-efficiency-laws?utm_campaign=info%40euneighbours.eu&utm_medium=email&utm_source=transactional

Prime Minister of Georgia Giorgi Gakharia held a video conference with the presidents of the European Bank for Reconstruction and Development (EBRD) and the Asian Development Bank (ADB) regarding the possible assistance and financial resources to be allocated to Georgia due to the challenges associated with the global pandemic.

Economic problems caused by the global spread of COVID-19 were emphasized during the video conference. Funding allocated by EBRD and ADB to the Georgian private sector, Georgian banks, and other business entities was noted in particular.

The sides also discussed post-crisis measures and the assistance that Georgia might receive from the financial institutions, which would enable the government to continue the state funding programs that are being implemented today to support citizens and private businesses.

It was noted that the government team is actively working with the local representatives, as well as the head offices of both EBRD and ADB to jointly develop a package of measures that will focus on overcoming the ongoing challenges.

According to the assessment of the presidents of the financial institutions, the fact that Georgia is successfully coping with the crisis constitutes sufficient grounds to say that the country will very quickly regain the rate and positions of economic development that it possessed at the beginning of 2020. Suma Chakrabarti and Masatsugu Asakawa confirmed their readiness to actively support Georgia in this area.

The Georgian side stressed that EBRD and ADB are very strong and serious partners for Georgia. It was noted that the European Bank for Reconstruction and Development and the Asian Development Bank have financed extremely important projects worth hundreds of millions of dollars in Georgia, including in the area of infrastructure. It was noted that all major systemic infrastructural projects funded by them are still in the active phase of implementation today, despite the ongoing crisis.

The head of government thanked EBRD and ADB for their active cooperation and their support of Georgia.
Deputy Prime Minister and Minister of Regional Development and Infrastructure Maia Tskitishvili and Minister of Finance Ivane Machavariani participated in the video conference.

02.04.2018 Up to 1,150 advisory projects with local small and medium-sizes enterprises (SMEs) were implemented by the Advice for Small Businesses (ASB) team of the European Bank for Reconstruction and Development (EBRD) since the launch of the program in 2003, in Georgia. Around half of the projects were carried out outside the capital city, and about 1/5 of the enterprises were led and/or managed by female entrepreneurs.

The EBRD’s Advice for Small Businesses team connects Georgian SMEs with local consultants and international advisers to transform a huge range of businesses from industries, such as food and beverages, wholesale and retail distribution, construction and engineering.

SMEs enrolled in the programme benefit from know-how and customised advice that enhance business competitiveness and foster adaption to the new business environments.  The programme has a special focus to help SMEs meet new food safety and hygiene standards, while improving the export potential to enable them fully enjoy the free trade area with the European Union – the world’s largest trading block.

“Access to knowledge and expertise is one of the preconditions for the businesses to be effective and successful not only in Georgia, but around the world. We work with wide range of enterprises to support their efforts of aligning with European standards, putting efficient systems in place and fostering innovation and competitiveness,” says Severian Gvinepadze, Principal Manager of EBRD SME Finance and Development Group.

Currently, the EBRD’s Advice for Small Businesses activities in Georgia are supported by the European Union (grant funding) under its EU4Business Initiative, the Early Transition Countries Fund**, Sweden and the EBRD Shareholder Special Fund.

"Congratulations to our partner EBRD for 15 years of valuable work on small business advice! Thanks to the work of the team, we were able to support Georgian SMEs in their ambitions of increasing competiveness, establishing stronger economic ties with the EU, and running truly efficient and modern businesses. The EBRD is a key partner for European Union’s EU4Business initiative, an umbrella initiative that covers all EU activities supporting SMEs in the Eastern Partnership countries” says Vincent Rey, Head of Cooperation at the Delegation of the European Union to Georgia.

“My company Madam Wine has been supported with advisory services in marketing. With help from a local consultant, I set up a new website through which I was able to attract more clients from abroad and signed a three year contract to export my product to Azerbaijan- 50,000 bottles annually. ” says Manana Akhvlediani, Madam Wine CEO.

*Since the start, the programme has been funded by the European Union, the EBRD Early Transition Countries Fund, the EBRD Shareholder Special Fund, Canada, Sweden and the TaiwanBusiness-EBRD Technical Cooperation Fund.

**Donors to Early Transition Countries Fund are Canada, Finland, Germany, Ireland, Japan, Korea, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China and the United Kingdom.

About EBRD

The EBRD was established in 1991 to meet the challenge of an extraordinary moment in Europe’s history, the collapse of communism in its East. The EBRD is the largest single investor in its existing region. With its Headquarters in London and with a capital base of €30 billion and a AAA rating from all three main rating agencies (S&P, Moody’s and Fitch), the Bank’s investments also mobilise significant foreign direct investment into its countries of operations. It invests mainly in private enterprises, usually together with commercial partners. It provides project financing for the financial sector and the real economy, both new ventures and investments in existing companies. It also works with publicly-owned companies to support privatisation, the restructuring of state-owned firms and improvement of municipal services.

The EBRD is owned by 66 countries, from five continents, including China, including two intergovernmental institutions (the European Union and the European Investment Bank). It maintains a close political dialogue with governments, authorities and representatives of civil society to promote its goals. It also works in cooperation with international organisations such as the OECD, the IMF, the World Bank and UN specialised agencies.

The EBRD operates in 38 economies from central Europe to central Asia and southern and eastern Mediterranean and has over 40 local offices.

The EU is the world’s largest market and a Deep and Comprehensive Free Trade Agreement with Georgia, the Republic of Moldova and Ukraine offers new opportunities for companies in these countries. Fashion house ‘Materia’, based in Tbilisi, is one of them, says an article published by the European Bank for Reconstruction and Development (EBRD).

Offering its customers a premium clothing line and more affordable products, the fashion house also sells its clothing to various public institutions in Georgia including the army, police, post office staff and many more.

It works closely with the Georgian Rugby Federation to produce uniforms for the national team’s junior players and a wide range of rugby clubs, including Goris Jiki, which won this year’s domestic club championship.

The business has secured financing to modernise its equipment and introduce the best workplace health and safety practices for a new clothing factory, in line with EU standards. This will help the fashion house to take full advantage of export opportunities. The firm was one of the first to benefit from the EU4Business-EBRD Credit Line.

The EU4Business-EBRD Credit Line – a joint initiative between the EBRD and the European Union – targets small and medium-sized enterprises in Georgia, the Republic of Moldova and Ukraine. All three countries are signatories to an Association Agreement and benefit from signing up to the Deep and Comprehensive Free Trade Area with the EU.

The Credit Line helps interested businesses to make the most of open access to the EU, the world’s largest trading block, by modernising their production and services in line with EU standards.