BSTDB extended a new SME loan facility of USD 15 million to Basisbank, an existing BSTDB partner financial intermediary in Georgia. With this new medium-term funding aimed to support Basisbank’s lending to SMEs in Georgia, BSTDB will promote job creation, income generation and, to the extent possible, increasing trade turnover between BSEC countries. The excellent cooperation between BSTDB and Basisbank has been continuing since 2012 when the first trade finance facility was extended. Since then, BSTDB disbursed to Basisbank in aggregate nearly USD 200 million in support of Georgian SMEs, exporters and importers.

Established in 1993, JSC Basisbank is 92.3% owned by Chinese Hualing Group, one of the largest foreign investors in Georgia. The bank provides a broad range of banking services to retail and corporate clients through an extensive nationwide network.