Bank of Georgia
USD 10 million
Localisation: Eastern Europe & CIS
Secteur: Financial Services
Instrument financier: Fixed Income Securities / Debt
To tackle market failures and stimulate the creation and growth of small companies, the Government of Georgia took in 2015 a strategic decision to improve the business environment. This decision has, in part, contributed to the SME sector representing a key pillar of the Georgian economy. As of March 2019, SMEs accounted for 53% of the business sector’s total turnover and 63% of the total work force.
SIFEM’s subordinated loan is part of an FMO-led syndication. This financing will not only strengthen the capital base of BoG to enable its sustainable growth but also contribute to the economic development and growth of Georgia by promoting access to finance for MSMEs, supporting job creation and generating additional tax revenues.