The EBRD and the Ministry of Finance and National Bank of Georgia on Monday signed a memorandum on the implementation of a credit program in the Georgian national currency, Trend reports.
The EBRD will grant loans in the local currency to those banks and local private entreprises which meet the criteria. The interest rate will be a catalyst, represented on the local market in the local currency.
Since its establishment in the Georgian market, the EBRD has invested in more than 120 projects worth about one billion euros, 70 percent of which were invested in the private sector
EBRD to provide loans in Georgian currenc
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