Women-led micro, small and medium-sized enterprises (MSMEs) in Georgia are to benefit from fresh funds, thanks to a loan by the European Bank for Reconstruction and Development (EBRD), supported by the European Union (EU) and Sweden.
A credit line of €8m to ProCredit Bank, one of Georgia’s leading banks and a longstanding EBRD partner, will be made available to women-led firms to finance investments to boost growth and development.
This is the first time ProCredit Bank has extended gender-focused financing. It is joining the EBRD’s Women in Business (WiB) programme, which, with the support of the EU and Sweden, enables women’s access to finance and know-how through advisory services, mentoring and training.
The EU is supporting the loan for women entrepreneurs under its European Fund for Sustainable Development Plus (EFSD+) guarantee programme.
