New BSTDB Financing to Propel Small Business Growth in Georgia
SME facility to Basisbank to Drive Trade and Economic Development
The Black Sea Trade and Development Bank (BSTDB) is strengthening its partnership with Basisbank by providing a new USD 15 million SME Facility. This financing will expand Basisbank's capacity to support small and medium-sized enterprises (SMEs) in Georgia, enabling them to access funds for investment programs and working capital needs.
BSTDB and Basisbank have established a robust partnership since 2012, collaborating on multiple facilities, including Trade Finance and SME loans, totaling over USD 183 million. This successful cooperation highlights BSTDB's commitment to fostering market development, supporting SME growth, and driving job creation, income generation, and increased trade turnover in Georgia.
Commenting on the agreement, Dr. Serhat Köksal, BSTDB President, said: "We are delighted to further expand our cooperation with Basisbank, a trusted partner and one of the market leaders in Georgia. This new SME facility illustrates our commitment to fostering economic resilience and growth by empowering small and medium-sized enterprises — the backbone of the economy. Together, BSTDB and Basisbank are laying a strong foundation for long-term economic progress and regional development."
"We are happy that our strong partnership with BSTDB continues with another successful collaboration in supporting the development of small and medium-sized businesses. The new facility will contribute to the growth of the private sector and meet the financial needs of SMEs. Our close cooperation with BSTDB reflects our shared commitment to supporting the private sector as a fundamental pillar of economic growth. I would like to thank our partner, BSTDB, for their ongoing support and look forward to working together on even more successful projects in the future.", said David Tsaava, General Director of JSC Basisbank.
With a market share of 5%,JSC Basisbankis the 3rd biggest Bank in business finance and the 4th largest Bank in retail services in Georgia. The Bank provides industry expertise, top-notch banking, insurance, and leasing products and services across the country, establishing itself as one of the significant market players in Georgia. Its strong collaboration with partner international financial institutions gives Basisbank a distinct advantage as a trusted partner to many, highly rated international financial institutions, commercial banks and investment funds from all around the world including the Asian region. For more information, visitwww.basisbank.ge
TheBlack Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquartersare in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity, and guarantees for projects and trade financing in the public and private sectors of its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visitwww.bstdb.org.
Contact:Haroula Christodoulou
: @BSTDB
