EFSE and BasisBank to Provide Crucial Financing to Georgia’s Small Businesses

The European Fund for Southeast Europe (EFSE) and JSC BasisBank, Georgia (BasisBank) are expanding their partnership to provide much-needed financing to micro and small enterprises (MSEs). A new senior loan from the fund of EUR 4.2 million will be on-lent through the bank to help Georgian MSEs tackle the turbulent environment posed by the ongoing COVID-19 crisis.

As an important financier of local businesses and households, BasisBank has been a strategic partner in enabling EFSE to pursue its mission of expanding access to finance for underserved clients in the region as a means to foster prosperity and growth. The new investment particularly aims to address a major challenge confronting MSEs during this turbulent period: cash flow.