MKD LAW has successfully advised the Dutch Entrepreneurial Development Bank (FMO) on allocating the recent GEL 100 million loan facility to Credo Bank.

The facility denominated in the local currency will facilitate the development of the micro, small and medium-sized businesses in Georgia and support young entrepreneurs.

The transaction fully complies with the FMO’s sustainable development objectives to reduce inequalities.

FMO provided this long-term financing in local currency by the private placement of AAA-rated bonds denominated in GEL. Thus, it is very important for the capital market development in Georgia as well as in terms of de-dollarization of the economy.   

During the transaction, FMO was assisted and advised by MKD LAW’s Natalia Babakishvili, Associate and Victor Kipiani, Senior Partner. 

“Our team is very proud to represent one of the world’s prominent and prestigious financial institutions during a transaction so important for our country. MKD LAW is a long-term partner for the Dutch Entrepreneurial Development Bank (FMO) and we will gladly continue our successful cooperation with them”, - noted Victor Kipiani.