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.
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