Georgia’s Credo Bank will soon get a US$16 million loan from the European Bank for Reconstruction and Development (EBRD) to support MSMEs and women-led firms in the country. The financial package is backed by the European Union and Sweden and involves a credit line of US$10 million for MSMEs. Furthermore, US$4 million is being assigned from EBRD’s Women in Business program to promote women’s participation in entrepreneurship and US$2 million for small business upgrades to modern and greener technology. This deal between EBRD and Credo bank will help Georgia’s MSMEs to become more competitive and sustainable, both locally and globally.
