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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme
Alerts Sign-up