{"id":179969,"date":"2024-06-24T11:31:54","date_gmt":"2024-06-24T07:31:54","guid":{"rendered":"https:\/\/forbes.ge\/kredo-bankma-symbiotics-investments-isgan-13-milionis-36-milioni-lari-motsulobis-investitsia-moizida\/"},"modified":"2024-06-24T11:38:31","modified_gmt":"2024-06-24T07:38:31","slug":"credo-bank-attracted-usd-13-million-gel-36-million-funding-from-symbiotics-investments","status":"publish","type":"post","link":"https:\/\/dev.forbes.ge\/en\/credo-bank-attracted-usd-13-million-gel-36-million-funding-from-symbiotics-investments\/","title":{"rendered":"Credo Bank Attracted USD 13 Million (Gel 36 Million) Funding From Symbiotics Investments"},"content":{"rendered":"<p>Credo Bank attracted USD 13 million (GEL 36 million) funding from Symbiotics Investments. A three-year local currency facility targets to support Micro, Small, and Medium-sized entrepreneurs in Georgia. It is notable that 80% of over GEL 100 million total investment currently outstanding with Symbiotics Investments is in Local Currency, which highly contributes to de-dollarization efforts for the economy.<\/p>\n<p>\u201cI would like to extend my sincere appreciation to Symbiotics Investments for the long-term strategic partnership. This new facility supports Georgian farmers with local currency funding necessary to their development. Moreover, with the support of our international partners, we stay committed to provide affordable financial products and services to local MSMEs and envision additional up to GEL 175 million investment within the summer period.\u201d \u2013 <strong>said<\/strong> <strong>Zaza Pirtskhelava, Chief Executive Officer of Credo Bank.<\/strong><\/p>\n<p>\u201cThis new transaction is part of our long-term partnership with Credo Bank, that started back in 2006. We at Symbiotics Investments are glad to contribute to Credo\u2019s stable development, and thus support Georgia&#8217;s micro, small and medium entrepreneurs. I would like to thank the Bank\u2019s team and my colleagues involved for arranging this new facility.\u201d \u2013 <strong>said<\/strong> <strong>Alexandr Fando, Regional Manager for Caucasus and Central Asia at Symbiotics Investments.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/credobank.ge\/en\/\"><strong>About Credo Bank<\/strong><\/a><\/p>\n<p><strong>Credo Bank<\/strong> is the fifth-largest commercial bank in Georgia. With its wide regional outreach through 90 branches, it offers fully-fledged and innovative banking services to over 480,000 customers. The bank\u2019s mission is to support Georgia\u2019s MSME entrepreneurs and their employees to create a better future by offering affordable financial services. It is owned by international social impact and development finance institutions such as German &#8211; Access Microfinance Holding AG, Swiss &#8211; responsAbility Investment Management AG, the Dutch \u2013 Triodos Investment Management BV and French \u2013 Proparco.<\/p>\n<p><strong>About <a href=\"http:\/\/symbioticsgroup.com\">Symbiotics Investments<\/a><\/strong><\/p>\n<p><strong>Symbiotics<\/strong> is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,800 investments representing more than USD 9.9 billion for 597 companies in 96 countries.<\/p>\n<p><span style=\"color: #000080;\"><strong>S<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credo Bank attracted USD 13 million (GEL 36 million) funding from Symbiotics Investments. A three-year local currency facility targets to support Micro, Small, and Medium-sized entrepreneurs in Georgia. It is notable that 80% of over GEL 100 million total investment currently outstanding with Symbiotics Investments is in Local Currency, which highly contributes to de-dollarization efforts [&hellip;]<\/p>\n","protected":false},"author":797,"featured_media":179965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1747,1736],"tags":[],"class_list":["post-179969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-partner-en","has-thumb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Credo Bank Attracted USD 13 Million (Gel 36 Million) Funding From Symbiotics Investments &#8226; 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-attracted-usd-13-million-gel-36-million-funding-from-symbiotics-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credo Bank Attracted USD 13 Million (Gel 36 Million) Funding From Symbiotics Investments &#8226; Forbes Georgia\" \/>\n<meta property=\"og:description\" content=\"Credo Bank attracted USD 13 million (GEL 36 million) funding from Symbiotics Investments. 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