BSTDB and Isbank Georgia Step Up Support for Georgian SMEs
New financing will help Georgian businesses invest, expand trade and strengthen their competitiveness
The Black Sea Trade and Development Bank (BSTDB) and Isbank Georgia have signed a new EUR 7 million SME facility to support the investment, working capital and trade financing needs of small and medium-sized enterprises (SMEs) in Georgia.
Signed on the sidelines of the Bank’s “Business Dialogues” event, the new facility will provide additional access to finance for Georgian SMEs, enabling them to invest in their businesses, expand operations and increase their trade activity, while contributing to sustainable economic growth and greater competitiveness.
The agreement further strengthens the long-standing partnership between BSTDB and Isbank Georgia, dating back to 2018.
“Supporting the private sector and expanding access to finance are at the heart of BSTDB’s mandate. We are pleased to deepen our cooperation with Isbank Georgia and support the bank in meeting the financing needs of its SME customers,” said Ziya Aliyev, BSTDB Vice President Banking. “Access to appropriate financing is essential for businesses to invest, grow, create jobs and strengthen their competitiveness. Through this facility, we are helping Georgian SMEs pursue new opportunities and further contribute to the country’s economic development and trade.”
“We highly value our long-standing partnership with BSTDB and appreciate their continued trust in Isbank Georgia. Besides Corporate, SMEs play an important role in Georgia’s economic development and at Isbank Georgia, we remain commited to supporting their growth by providing reliable and accessible financing solutions. This agreement will enable us to offer additional financial resources to our SME customers, helping them invest, expand their businesses and strengthen their competitiveness“ said Onur Kutuk, CEO of Isbank Georgia.
The new facility adds to BSTDB’s support for the development of Georgia’s private sector and reflects the Bank’s continued focus on working through strong local financial partners to channel financing to businesses across its member countries.
JSC Isbank Georgia is operating in Georgia as a full subsidiary of Türkiye İş Bankası A.Ş., which is the largest private bank in Türkiye. The Bank provides a broad range of banking services tailored to the needs of corporate, SME, and retail customers. Isbank Georgia's priorities are to promote close commercial and business ties not only between Georgia and Türkiye, but also to develop business opportunities in international markets. Through its cooperation with international financial institutions, Isbank Georgia continues to expand access to financing and support the sustainable development of Georgian businesses. More information about Isbank Georgia at www.isbank.ge.
The Black 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 headquarters are 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 in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: External Relations and Communications Department
