EU4Business, the European Bank for Reconstruction and Development (EBRD) and the Bank of Georgia have joined forces to launch a new financing facility to support local SME development
The EBRD, in partnership with the Bank of Georgia, has launched a new EBRD-EU financing facility to support local SME development, in the context of the country’s Association Agreement and Deep and Comprehensive Free Trade Agreement (DCFTA) with the EU, allowing companies to take full advantage of the opportunities offered by the DCFTA.
The EBRD-EU4Business Credit Line will support the modernisation of local SMEs in helping bring about improvements in product quality and upgrading services to meet EU standards.
The EU will provide interested SMEs with investment incentives of up to 15 % and loans in local currency, as well as technical assistance in the form of advisory services from international consultants and the EBRD’s Advice for Small Businesses unit. This in turn will create an environment that is beneficial to cross-border trade and economic growth in Georgia.