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 European Investment Bank (EIB), the bank of the European Union, has provided a €6 million loan to Terabank Georgia to support its local currency lending to micro, small and medium-sized enterprises (MSMEs) in the country.
The European Bank for Reconstruction and Development (EBRD) has launched an online resource in Georgian with legal and business guidance to support micro, small and medium-sized enterprises (SMEs) in their response to new challenges following the COVID-19 pandemic.
Since the outbreak of COVID-19 in early 2020, the EU, EU Member States and European financial institutions, as Team Europe, have disbursed €34 billion in support to partner countries in addressing the pandemic and its consequences, delivering on their promises with concrete results.
The report published today shows that nearly 72,000 companies in Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine received assistance from EU4Business and managed to create over 50,000 new jobs.