EFSE and Bank of Georgia Group Expand Financing for MSEs

Date: 
17 Jan 2019

The European Fund for Southeast Europe (EFSE) has provided a senior loan of $10 million to the Bank of Georgia Group PLC (Bank of Georgia Group, or the Group) for on-lending to micro and small enterprises (MSEs). The funding will be distributed to MSEs through the Bank of Georgia Group’s dominant subsidiary, the Bank of Georgia – one of the country’s leading small-business lenders. This continued collaboration between the longstanding partners aims to support the Bank of Georgia in further expanding its outreach to MSEs, especially those in the tourism, trade, and agricultural sectors.

EFSE Board Chairman Christoph Tiskens said: “With its strong commitment to EFSE’s target group of MSEs and its extensive nationwide network, the Group has been a valuable partner in our joint effort to meet the financing needs of this key sector of the economy. Together, we are investing in the success of Georgian entrepreneurship.”

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Country: 
Georgia