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Tuesday, August 22, 2017

BasisBank financing winery, agriculture

The BasisBank of Georgia is expanding its agro-credit program, issuing new loans totaling $6 million to customers, including the largest wine producer in the country.

BasisBank is a universal bank operating in Georgia since 1993. It provides services in the retail, SME and corporate sectors.

In 2005, the Georgian government signed an agreement with International Fund for Agricultural Development and the International Development Association for the facilitation of agricultural development. BasisBank joined the project the following year, signing a 10 year agreement under which the Bank received a $2.5 million credit line for the development of the agricultural sector.

BasisBank established a strategic partnership with the European Bank for Reconstruction and Development in 2007, receiving a $6 million credit line to finance small and medium businesses.

The EBRD acquired 15 percent of BasisBank in 2008.