European Investment Bank Lends EUR 10 Million to Credo Bank to Support MSMEs

The European Investment Bank (EIB) will lend €10 million to a Credo bank in Georgia to ensure more affordable loans to micro, small and medium enterprises (MSME), mostly in the agriculture sector.

This is the second loan granted under the EIB’s ‘Georgia Outreach Initiative’. Launched in December 2019, the initiative improves financial inclusion and access to finance for underserved MSMEs in Georgia by supporting smaller banks in improving their service offers.

The loan from the EU bank will be available to MSMEs in a synthetic local currency to protect them from currency depreciation. An EU grant will complement the EIB loan to promote the local currency financing and cover part of the foreign exchange risk-related costs.

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With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
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Economy

European Investment Bank Lends EUR 10 Million to Credo Bank to Support MSMEs

The European Investment Bank (EIB) will lend €10 million to a Credo bank in Georgia to ensure more affordable loans to micro, small and medium enterprises (MSME), mostly in the agriculture sector.

Last 7 Days Hot Topic

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
01

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
05

Georgian Parliament Passes Draft Law on Transparency of Foreign Influence in First Reading
06

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European Investment Bank Lends EUR 10 Million to Credo Bank to Support MSMEs

The European Investment Bank (EIB) will lend €10 million to a Credo bank in Georgia to ensure more affordable loans to micro, small and medium enterprises (MSME), mostly in the agriculture sector.

Last 7 Days Hot Topic

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 01

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 03

Georgia Sees Surge in Electric Vehicle Registrations 04

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 05

Georgian Parliament Passes Draft Law on Transparency of Foreign Influence in First Reading 06

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
01

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
05

Georgian Parliament Passes Draft Law on Transparency of Foreign Influence in First Reading
06