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28.09.2010
The first Basissbank-USAID joint project

In the head office of JSC Basisbank, Basisbank and United States Agency for International Development (USAID) signed a cooperation agreement..

 

The agreement was signed by Davit Tsaava, the Acting General Director of Basisbank and Jonathan Conley, USAID Caucasus Mission Director.

 

Under the agreement, Basisbank will receive from USAID 50% guarantee for a $6-million portfolio. The term of the guarantee is 4 years. The project is aimed at facilitating the development of small and medium businesses. It is noteworthy that 35% of the portfolio within the guarantee will be used for the development of agriculture.

Cooperating with United States Agency for International Development in the area will enable Basisbank to further step up its efforts to support the development of small and medium businesses as well as agriculture.

 

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