The European Fund for Southeast Europe (EFSE) has granted the Respublika Bank of Georgia a loan of $20 million to boost micro and small business, Trend reports.
The loan will be distributed throughout 28 offices of the bank. Clients will receive over 1600 loans.
Monika Beck, head of the EFSE board of directors, said that Georgia had an advanced distributive network.
The EFSE was formed by the Reconstruction Credit Institute of Germany under financial support of the Ministry for Economic Cooperation and Development of Germany and the European Commission.
