8 December, 2010
Mgaloblishvili Kipiani Dzidziguri (MKD) law firm has successfully completed advising the Asian Development Bank (ADB) on lending$ 50 Million to JSC Bank of Georgia to help Georgia expand small business lending and boost recovery.
The Asian Development Bank (ADB) and JSC Bank of Georgia have signed a $ 50 Million five-year financing package, the proceeds of which will be onlent to small and medium-sized enterprises(SMEs). The loan is expected to help Georgia to expand its SME sector, as well as restore confidence in banks in the wake of the global financial crisis.
The development of small and medium-sized enterprises is crucial for the recovery of the economyin global economic down turn, and this assistance will allow the banks to expand their loan portfolio to small businesses.