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OPIC and World Business Capital to Open Credit Line for Basisbank to Finance SME Sector


This issue was discussed during the meeting held at the Basisbank head office between the Bank’s administration and Kenneth Angel, Senior Investment Officer of OPIC (Overseas Private Investment Corporation). The sides discussed the details of procedures for receiving a loan.


Basisbank has been negotiating with OPIC and World Business Capital on opening a USD 5 million credit line since September 2008.


The OPIC-allocated credit line will be used for financing small and medium business in Georgia.


David Tsaava, director in corporate banking, said that Basisbank prioritizes on supporting the SME sector, because it believes that just its development will help overcome the current economic crisis and promote further economic development in the country.    

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