The Bank of Georgia recently hosted an information event for clients to present the opportunities afforded by loans and grants provided by the EU4Business-EBRD (European Bank for Reconstruction and Development) Credit Line.
In total 150 people from a broad spectrum of commercial and industrial companies attended the information event.
Tamar Khizanishvili, Head of Corporate Banking at the Bank of Georgia, welcomed guests in her opening speech and explained the importance of the Association Agreement and Deep and Comprehensive Free Trade Area for Georgia.
She also outlined how the EU4Business-EBRD Credit Line helps companies, through loans and grants, to invest in processes and equipment to align with relevant EU directives, while at the same time developing their capacity and gaining advantage in national markets.
Through the EU4Business-EBRD Credit Line, Georgian companies can access finance to modernise their equipment, foster workplace safety practices and upgrade sanitary conditions. Within the EU4Business initiative, the funding offered by the EBRD is complemented with an EU grant of up to 15% and technical assistance engaging local and international expertise.
Participating companies showed immediate interest in understanding the application process to secure the loan investment and the grant. The 15% grant was especially attractive for companies. One meat processing company applied for a loan immediately after the event.
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