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15.10.2011
Commerzbank opened a credit line for Basisbank for Trade
 

Commerzbank has opened a credit line for Basisbank to boost trade operations. This line will support and greatly simplify the relationship between partners and clients involving into trade operations.

Throughout 19 years of its operation in the market, the Bank stands out for its strong image of being one of the most stable and progressive financial institutions in Georgia.  Its flexibility, transparency and proper management has awoken great interest among investors.BB accumulates many years of successful cooperation with foreign financial institutions. Collaboration with the European Bank for Reconstruction and Development, one of foresaid institutions, started in the year 2007, right after the EBRD opened a 6 million dollar credit line for the BB to finance SME sector.  In May 2008, the European Bank enhanced partner relations with the Bank and bought 15% of its equity stake. The EBRD has also invested 2 million USD of its resources in TFP project of the Bank, aiming at trade business development in Georgia. Owing to a number of transactions implemented by specially trained team of the BB, the latter was named as one of the most active TFP program participants.

It is worth mentioning cooperation with the OPIC (The Overseas Private Investment Corporation) started at the end of 2009 and finished with signing 5 million USD credit line Agreement, aiming at finance SME loans within Georgia.  Based on the first successful cooperation, the OPIC increased credit line for the Bank so the BB received additional 5 million USD investment pack for SME financing.

Basisbank was the first bank in Georgia that the United States Agency for International Development started a joint project with. Under the Agreement signed between the parties, the USAID provided 50% guarantee for the Bank’s 6 million USD loan portfolio. The project has been intended to facilitate development of small and medium sized businesses as well.

The Bank has been actively cooperating with the following pre-eminent financial institutions in Europe and Asia: the World Bank (WB), The International Fund for Agricultural Development (IFAD), The Black Sea Trade and Development Bank (BSTDB), The Asian Development Bank (ADB), the Entrepreneurial Development Bank of the Netherlands (FMO) etc.

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