On 26 February, the European Fund for Southeast Europe (EFSE) announced it was providing €20 million in a 10-year subordinated loan facility to Bank of Georgia, a long-standing strategic partner of EFSE.
The investment aims at strengthening the capital position of Bank of Georgia, enabling it to increase lending to micro, small and medium-sized enterprises (MSMEs). In particular, it will support sustainable companies and those owned or managed by women to support business growth in Georgia, promote gender equality and advance sustainable development.
“MSMEs play a significant role in the Georgian economy, and we are proud to contribute with this investment to support the country’s sustainable and inclusive economic growth, as well as its integration in regional and global markets,” Oxana Binzaru, EFSE Regional Director said.
“This facility enables us to continue empowering our customers, while maintaining a strong capital position,” Archil Gachechiladze, Bank of Georgia CEO, said.
