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05.02.2016

Development Bank of China has issued to BasisBank credit line in amount of USD 5 million

Development Bank of China has provided to BasisBank credit line in amount of USD 5 million. The purpose of credit line is financing of international trade transactions. Noteworthy is that such fact is unprecedented that Chinese financial institution has started cooperation in this direction with the local Georgian Bank. 

„It’s a great honor for BasisBank to start cooperation with one of the largest and successful financial institution –Development Bank of China. I would like to express my confidence that our cooperation will be long term and mutually beneficial. Issuance of mentioned credit line is especially important against the background of strengthening collaboration between our countries as it will contribute to financing of joint projects between Chinese and Georgian companies.

Development of SME is a priority direction for Georgia since it leads to strengthening of the countrys economy. Should be pointed out that BasisBank has supported variety of Projects. It is significant that Bank has opportunity to offer cheap financial resources “– has stated General Director of “JSC “BasisBank Mr. David Tsaava.

In 2012 the largest Chinese company “Hualing Group” has purchased 90% shares of BasisBank and in the end of 2014 has increased its share up to 92,78%.

Notable is that “Hualing Group” is the largest investors in Georgia.

Assets volume of Development Bank of China exceeds CNY 10 trillion and in Representative Offices in China and outside the country are working more than 50 thousand employees. Besides it owns 4 subsidiary companies.

 

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