Georgia: Team Europe - EIB’s immediate COVID-19 response in support of the MSME sector reaches a new milestone

With this signature, the EIBs total immediate response to COVID-19 in the country comprises additional lending of over 70 million, and existing loans benefiting from COVID measures exceeding 90 million.

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https://www.eib.org/press/all/2021-073-team-europe-eib-s-immediate-covid-19-response-in-support-of-the-georgian-msme-sector-reaches-a-new-milestone

Retrieved on:

Tuesday, March 2, 2021

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European Union, Multilateral development banks, Financial services, European Investment Bank, Small and medium-sized enterprises, Banking

Summary

Key Points:

With this signature, the EIBs total immediate response to COVID-19 in the country comprises additional lending of over 70 million, and existing loans benefiting from COVID measures exceeding 90 million.
The loan agreement was signed in the presence of Charles Michel, President of the European Council.
EIB President Werner Hoyer said:Team Europe and the EIB will continue to build up our support for Georgian MSMEs and fuel the economic and social recovery of the countrys economy from COVID-19.
Thanks to the increased loan amount, Liberty Bank will unlock significant additional lending for MSMEs in Georgia.
This is also a further sign of our commitment to help businesses of all sizes to get through these turbulent times.
The loan expansion comes with a 450000 technical assistance component to help Liberty Bank improve and expand its offer for MSMEs.
This credit line comes with increased attractiveness to SMEs benefiting from the more flexible lending terms enabled by the EIBs COVID-19 emergency measures.
These measures are extended as part of Team Europes efforts to support Georgia and other EU partner countries during the pandemic.
For more information on the EIBs activities in Georgia please follow this link.