Additional Loans To Be Offered To Smes In Georgia
The European Investment Bank (EIB) and European Investment Fund (EIF) – jointly the EIB Group – today signed the first guarantee agreements to provide €100 million in loans to support small and medium-sized enterprises (SMEs) in Georgia, the Republic of Moldova and Ukraine.
These agreements, under the EU4Business initiative, will facilitate access to finance for local SMEs by providing a 70% guarantee on each loan and offer financing at favourable conditions, including reduced collateral requirements.
The three guarantee transactions are expected to unlock additional financing to small and medium-sized businesses and ultimately sustain jobs and new business opportunities in Georgia, Moldova and Ukraine. These guarantees are funded by the European Union through the Neighbourhood Investment Facility in the context of the EU4Business initiative.