The European Bank for Reconstruction and Development (EBRD) is extending a €6 million (or US$ 7.21 million equivalent) loan to TBC Leasing to broaden access to finance for Georgian micro, small and medium-sized enterprises (MSMEs), especially those in the regions.

TBC Leasing is the largest leasing company in Georgia and fully owned by TBC Bank, a long-standing partner of the EBRD. Listed on the London Stock Exchange, it has been successfully financing businesses in all sectors in Georgia for almost 30 years.

The EBRD continues to be a significant partner in Georgia during the Covid-19 crisis. MSMEs form an important segment of the Georgian economy and supporting them in these challenging times remains a priority for the Bank.

Catarina Bjorlin Hansen, EBRD Regional Director for the Caucasus, said: “The EBRD is keen to support the development of the leasing market and broaden access to finance for Georgian companies through alternative credit channels. The funds are aimed at small businesses across the country where financing is needed the most, in particular outside of Tbilisi. TBC Leasing is very well placed to channel EBRD funds to companies that are going through this unprecedented period of volatility. Getting financial help to businesses and providing uninterrupted lending is essential for keeping the economy going.”