BSTDB Enhances SME Support in Georgia
…June 2018- The Black Sea Trade and Development Bank (BSTDB) provided a USD 7 million loan to JSC Isbank Georgia to expand access to finance for small- and medium-sized enterprises (SMEs) in Georgia. BSTDB’s longer-term funds will facilitate Isbank Georgia to meet clients’ needs and expand its portfolio by channeling funds to Georgia’s regions.
“We are delighted to have partnership with Black Sea Trade and Development Bank. This facility will help Isbank Georgia to strengthen its position in the SME segment and expand financing of investment and working capital projects of small- and medium-sized enterprises (SMEs) in Georgia, as they contribute greatly to the country’s economic development“, commented Ozan Gür, Chief Executive Officer of Isbank Georgia.
“SME development is crucial for job creation and economic growth in the Black Sea region, including Georgia. We are therefore happy to increase further our support for the SME sector development in the country. The financing facility we are providing today will help local businesses to become more competitive when trading with other countries of the Black Sea region”, said Ihsan Ugur Delikanli, BSTDB President.
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JSC Isbank Georgia is operating in Georgia as a subsidiary of Türkiye İş Bankası A.Ş., which is the largest private bank in Turkey and owns 100% of Isbank Georgia shares. The Bank serves commercial and individual clients with a wide variety of banking products and services. For information on Isbank Georgia, visit www.isbank.org.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.