{"id":176551,"date":"2024-05-16T12:50:24","date_gmt":"2024-05-16T08:50:24","guid":{"rendered":"https:\/\/forbes.ge\/kredo-banksa-da-evropis-rekonstruqtsiisa-da-ganvitharebis-banks-shoris-mikro-mtsire-da-sashualo-zomis-satsarmoebis-mkhardasatcherad-10-milioni-dolaris-motsulobis-garigeba-gaphormda\/"},"modified":"2024-05-16T13:02:31","modified_gmt":"2024-05-16T09:02:31","slug":"credo-bank-and-the-european-bank-for-reconstruction-and-development-ebrd-sign-10-million-deal-to-support-micro-small-and-medium-enterprises-in-georgia","status":"publish","type":"post","link":"https:\/\/dev.forbes.ge\/en\/credo-bank-and-the-european-bank-for-reconstruction-and-development-ebrd-sign-10-million-deal-to-support-micro-small-and-medium-enterprises-in-georgia\/","title":{"rendered":"Credo Bank and the European Bank for Reconstruction and Development (EBRD) Sign $10 Million Deal to Support Micro, Small and Medium Enterprises in Georgia"},"content":{"rendered":"

Credo Bank and the European Bank for Reconstruction and Development (EBRD) signed a $10 million investment agreement to support the development of micro, small and medium-sized enterprises (MSMEs) in Georgia. The local currency denominated transaction aims to improve financial inclusion and increase competitiveness, including in economically less-developed regions of the country.<\/p>\n

The signing ceremony took place at the EBRD\u2019s Annual Meeting 2024 in Yerevan. Francis Malige, EBRD Managing Director for Financial Institutions, said<\/strong>: \u201cThis $10 million investment with our longstanding partner Credo Bank illustrates our unwavering commitment to supporting Georgia’s MSMEs, enhancing financial inclusivity, and empowering economic growth, particularly for women-led businesses. We are dedicated to furthering Georgia\u2019s prosperity and market orientation.\u201d<\/p>\n

\"\"<\/p>\n

Zaza Pirtskhelava, Credo Bank\u2019s Chief Executive Officer said:<\/strong> \u201cWith this transaction Credo Bank and EBRD reaffirm long-term strategic collaboration to support growth and development of businesses in Georgia. Over the years, EBRD has made substantial investments in Credo Bank and its customers, totaling more than GEL120 million to advance financial inclusion, promote sustainability and empower women-led businesses. As Credo Bank, we stay committed to provide affordable and innovative financial products and services to local MSMEs.\u201d<\/p>\n

Credo Bank<\/strong><\/a> the fifth-largest commercial bank in Georgia, boasts a widespread rural presence, with 90 branches and digital infrastructure catering to over 480 thousand active customers, with a significant emphasis on empowering women entrepreneurs. It is owned by international social impact and development finance institutions such as German – Access Microfinance Holding AG<\/a>, Swiss – responsAbility Investment Management AG<\/a>, the Dutch \u2013 Triodos Investment Management BV<\/a> and French \u2013 Proparco.\u00a0<\/a><\/p>\n

\"\"<\/p>\n

The EBRD<\/strong><\/a> is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 73 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive<\/a>, inclusive<\/a>, well governed<\/a>, green<\/a>, resilient<\/a> and integrated<\/a>. To date, the EBRD has invested more than \u20ac5 billion in 293 projects in the financial, corporate, infrastructure and energy sectors in Georgia, with 82 per cent of those investments in the private sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

Credo Bank and the European Bank for Reconstruction and Development (EBRD) signed a $10 million investment agreement to support the development of micro, small and medium-sized enterprises (MSMEs) in Georgia. The local currency denominated transaction aims to improve financial inclusion and increase competitiveness, including in economically less-developed regions of the country. The signing ceremony took […]<\/p>\n","protected":false},"author":797,"featured_media":176539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1747,1736],"tags":[],"class_list":["post-176551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-partner-en","has-thumb"],"yoast_head":"\nCredo Bank and the European Bank for Reconstruction and Development (EBRD) Sign $10 Million Deal to Support Micro, Small and Medium Enterprises in Georgia • Forbes Georgia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.forbes.ge\/en\/credo-bank-and-the-european-bank-for-reconstruction-and-development-ebrd-sign-10-million-deal-to-support-micro-small-and-medium-enterprises-in-georgia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credo Bank and the European Bank for Reconstruction and Development (EBRD) Sign $10 Million Deal to Support Micro, Small and Medium Enterprises in Georgia • Forbes Georgia\" \/>\n<meta property=\"og:description\" content=\"Credo Bank and the European Bank for Reconstruction and Development (EBRD) signed a $10 million investment agreement to support the development of micro, small and medium-sized enterprises (MSMEs) in Georgia. 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