IFC and Georgia’s Basisbank help boost SME access to finance

The International Finance Corporation is providing a $10 million loan to Basisbank, a subsidiary of the Hualing Group - one of China's largest private enterprise groups - to enable it to on-lend trade-related working capital to Georgia's small and medium-sized exporters and importers.

Basisbank has also signed on as an issuing bank in IFC's Global Trade Finance Program. As part of the deal, IFC will provide the bank with a trade finance guarantee line of $2 million, helping it facilitate its clients' trade transactions and boost cross-border trade.