A credit line of 100 million has been approved to Bank of Georgia.
To note, 50 million USD of the sum is envisaged for enterprise development support, 40 million USD to fund this segment separately and 10 million USD to fund women entrepreneurs operating in this segment. The funds will be allocated in GEL and directed to borrow the sum form “Bank of Georgia” to the private sector.
The agreement has been signed on Friday and the first state of the joint program of European Bank and the EU is started in order to assist Georgian entrepreneurs to make investments in the improvement of production quality and service standards.
As noted at the Press Conference, credits will be issued in local currency, the maturity term amounts to 5 years, grace period – 2 years.