€30m EIB loan boosts access to finance for Georgian SMEs

The European Investment Bank (EIB) has agreed to lend €30 million to Georgia's TBC Bank in order to broaden access to finance for the country's small and medium-sized enterprises.

The EIB funds will be provided in the framework of the European Union's EU4Business initiative, designed to support SMEs in the six Eastern Partnership countries - Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. About 600 Georgian SMEs are expected to benefit from the loan.