Geo

ProCredit Bank and European Investment Bank Conclude Credit Line Agreement

Published: 15.10.2015

General Director of ProCredit Bank Asmus Rotne and Vice President of the European Investment Bank László Baranyay signed a credit line agreement on 14 October 2015 in Tbilisi. The credit line will be used to finance small and medium-sized businesses in Georgia.
ProCredit Bank and the European Investment Bank have been actively cooperating since 2012. The new credit line is worth EUR 15 million, an d one portion of it, EUR 5 million, will be used in the near future.
The main target group of ProCredit Bank is small and medium business clients, who will benefit from the funding provided by the European Investment Bank. ProCredit Bank will be able to pass on the favourable terms of the credit line to clients in the form of attractive business loans, which in turn will support business development and economic advancement.

“We will actively continue financing small and medium business clients with the funds raised from the European Investment Bank. We believe that contributing to the development of such companies is the surest route to economic growth and more job creation in Georgia,” commented General Director of ProCredit Bank Asmus Rotne.

“The competitiveness of the Georgian economy hinges, among other things, on access to finance for productive investment. The EIB will provide such funding. This will have a positive impact on the diversification of the Georgian economy and on the living standards of the country’s citizens,” stated Vice-President of the European Investment Bank László Baranyay.