Managers of the Bank had a meeting with Kenneth Angel and Alfred Rodriguez OPIC (The Overseas Private Investment Corporation of US Government) at Basisbank Head office.
The parties reviewed the remaining procedures the parties are going to follow to finalize the process of providing the Bank with USD 5 million credit facility.
OPIC and World Business Capital credit allocation will be used to provide working capital to small and medium business within Georgia.
According to the statement made by the Director General of JSC Basisbank, Basisbank considers support to SME sector a top priority, since it believes that development of SME sector is crucial to confront the crisis and give rise to further economic growth within the country. OPIC and World Business Capital credit allocation will enable us to provide our customers with long-term loans at a quite low interest rate – 18% annual interest rate. Although it is expected to further lower interest rate in the near future.