TBC Bank in Georgia to receive EBRD and EU funding to boost small companies
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.
Find out more
MOST READ
SEE ALSO
Voice Your Vision: Young European Ambassadors take part in European Forum of Young Leaders in Warsaw
Recently appointed Head of EU Monitoring Mission meets with Georgian Prime Minister
EU, UN and Austria launch new project to improve air quality in Georgia
‘Not in line with EU core norms and values’: EU urges Georgia to refrain from adopting law on foreign influence
Ukraine Support Task Force delivers 20 tonnes of specialised equipment donated by Czech company
The information on this site is subject to a Disclaimer and Protection of personal data. © European Union,
