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150 million USD to be Allocated for Financing Small and Medium Businesses

“150 million USD will be allocated for Georgia within the second phase of the SME Support Program,” said Bruno Balvanera, European Bank for Reconstruction and Development (BAN) director, adding that Georgia has the greatest chance of benefiting out of the program beneficiary countries.

“Georgia is actively implementing this program, so the main focus will be on Georgia,

At the first stage, the credit line was implemented by the Bank of Georgia, negotiations were held with TBC Bank too. Overall, within this tranche, 60 million dollars are considered to be spent, mostly funding of those enterprises located both in Tbilisi and in the regions. Some financing has already begun and 15-20 agreements have already been signed with the companies, “said Bruno Balvanera.