The partnership agreements between the BSTDB and Georgian finance organizations were signed at the BSTDB’s regional business forum, Development of Entrepreneurship and Access to Capital, held in Tbilisi on 19 June 2015 during the annual meeting of the BSTDB’s Board of Governors.
MKD’s transaction team, led by partner Victor Kipiani and lawyer Giorgi Kankava, participated in the signing ceremony and the business forum, the goal of which was to introduce Georgia’s economic potential and priorities to international institutions and businesses.
BSTDB’s USD 10 million loan agreement with TBC Bank is the third in range and will be dedicated to financing small- and medium-sized enterprises in Georgia. “Facilitating small business development as a backbone of the market economy will remain our strategic priority in Georgia and other countries of the Black Sea region in the years to come,” said Ihsan Ugur Delikanli, BSTDB’s President.
Another loan facility of USD 6 million, allocated by BSTDB to microfinance institution Credo LLC, will be on-lent to Georgian micro-, small- and medium-sized enterprises, with 50% of the facility earmarked for loans to businesses owned or managed by women. This will enhance access to capital for Georgian women entrepreneurs.
The BSTDB has also become FINCA Bank Georgia’s newest financial partner, providing a loan of USD 7 million for on-lending to small business owners so they can increase income and create jobs. The loan will support industrial, agricultural and service-related micro- and small-sized enterprises.
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