ADB Sells 64 Million Georgian Lari Bond To Lift Microenterprises

07 Jul 2016

The Asian Development Bank (ADB) has raised GEL 64 million (approximately USD 30 million) from a Georgian Lari denominated bond sale to support development of the local capital market and microenterprises in Georgia.

The proceeds of the bond issue will be lent to Credo Microfinance Organization and Finca Bank Georgia, two microfinance lenders, to provide loans to microenterprises in Georgia. The issue will support the implementation of USD 30 million in ADB loans provided earlier this year to the two lenders to expand their support to small enterprises and to reach clients in remote areas of the country.

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