- Funding boost for women-led firms in Georgia
- Focus on financing businesses in regions outside the capital city
- Advisory services, mentoring and trainings will further support women-led firms
The European Union, together with the European Bank for Reconstruction and Development (EBRD) and Sweden, is unlocking fresh funds via TBC Bank for Georgian women-led micro, small, and medium-sized enterprises (MSMEs).
A US$20 million EBRD loan to one of Georgia’s largest banks will further expand TBC’s lending to women-led firms, with a focus on financing companies outside the capital city. Borrowers will be able to access funds in Georgian laris or US dollars.
This loan is part of the EBRD’s Women in Business (WiB) programme, supported by the EU and Sweden. WiB aims to boost women’s access to finance and entrepreneurship through loans and business advice. As part of the programme, female entrepreneurs will also benefit from advisory services, mentoring, and training series.
TBC Bank successfully joined the WiB back in 2017 with a US$20 million loan, which is now fully utilised.
The European Union is further supporting the loan for women-led firms under its European Fund for Sustainable Development Plus (EFSD+) guarantee programme. The EFSD+ Financial Inclusion programme is designed to empower micro, small and medium-sized businesses, fostering their competitiveness and growth. By offering strong financial tools and expertise, this programme aims to encourage intermediaries to direct new lending towards those businesses who need it the most.
Francis Malige, EBRD Managing Director for Financial Institutions said: “Inclusive and sustainable economy remains one of the EBRD’s priorities, and women entrepreneurs are an important driver of growth for Georgia’s economy. With today’s signing, we look forward to seeing more women leaders bringing their business ideas to life, and would like to thank TBC Bank, the European Union, Sweden, for their continuous…
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