BAKU, Azerbaijan, October 19
By Tamilla Mammadova – Trend:
Council of Europe Development Bank (CEB) is well aware of the impact that the COVID-19 pandemic has had on Georgia’s economy as well as of the Government’s efforts to mitigate it, on the short and medium-term, the CEB told Trend.
"We will continue our discussions with authorities on specific social infrastructure projects that can spur sustainable growth and inclusiveness. At the same time, we will continue to support entrepreneurship and the creation or maintenance of jobs by making financing available at advantageous terms for the MSMEs," the bank added.
The financing approved for Georgia since 2011:
|
JSC ProCredit Bank (Georgia) |
Sustainable and inclusive growth |
25 million euros |
This 25 million euros Program loan will part-finance investments undertaken by MSMEs including fixed assets acquisition, construction or extension of business premises and working capital. |
|
JSC Credo Bank |
Sustainable and inclusive growth |
5 million euros |
This loan will part-finance investment sub-projects undertaken by MSMEs in rural and urban areas to support the creation and preservation of income generating activities, self employment and the creation and development of micro-enterprises. |
|
Government |
Managing the environment |
14 million euros |
Rehabilitation of Public Schools in Tbilisi and Increasing Energy Efficiency |
|
LLC MFO Credo |
Supporting micro, small and medium-sized enterprises |
2.5 million euros |
Contributing to strengthening SMEs' competitive position and fostering the creation of new permanent and seasonal jobs, and the preservation of existing ones. |
|
JSC Bank Republic |
Supporting micro, small and medium-sized enterprises |
7.9 million euros |
Job maintenance, and whenever possible, job creation through the productive investments in the micro, small and medium-sized enterprise (MSME) sector. |
|
JSC TBC Bank |
Supporting micro, small and medium-sized enterprises |
23.06 million euros |
Creation and preservation of jobs through financing productive investments by micro, small and medium-sized enterprises (MSMEs). |
|
JSC Procredit Bank |
Supporting micro, small and medium-sized enterprises |
11.7 million euros |
Co-financing of small investment projects in micro, small and medium-sized enterprises (MSMEs) throughout the country. |
|
Government |
Supporting public infrastructure with a social vocation |
60 million euros |
Construction of Laituri high security prison for 2,000 inmates. |
At this point in time, the following programs are active, i.e. under implementation:
- Financing agreements with JSC ProCredit Bank and JSC Credo Bank to support micro, small and medium-sized enterprises (MSMEs).
- School reconstruction project in Tbilisi. CEB’s loan is complemented by substantial grant funding from the E5P fund; the project has also benefited from grant resources mobilized from the CEB’s Spanish Social Cohesion Account.
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