In Georgia, the EU, EBRD, and Sweden Encourage Female Entrepreneurs

Female Entrepreneurs
Female Entrepreneurs

The European Union, in collaboration with the European Bank for Reconstruction and Development (EBRD) and Sweden, is providing a $20 million loan to TBC Bank in Georgia to support micro, small, and medium-sized enterprises (MSMEs) led by women. The loan will enable TBC Bank to expand its lending to women-led firms, with a particular focus on businesses located outside the capital city. Borrowers will have access to funds in Georgian laris or US dollars.

This initiative is part of the EBRD’s Women in Business (WiB) program, which aims to enhance women’s access to finance and entrepreneurship through loans and business advice. Additionally, female entrepreneurs will receive advisory services, mentoring, and training.

The European Union is further supporting this loan for women-led businesses through its European Fund for Sustainable Development Plus (EFSD+) guarantee program. The EFSD+ Financial Inclusion program is designed to empower micro, small, and medium-sized businesses, fostering their competitiveness and growth by offering financial tools and expertise.

This collaboration between the EBRD, the European Union, Sweden, and TBC Bank is expected to promote women-led entrepreneurship, economic development, and gender equality in Georgia. It aligns with the EU’s Economic and Investment Plan for the region and contributes to creating an inclusive business environment.

Giorgi Megrelishvili, CFO of TBC Bank, expressed pride in the strategic partnership with the EBRD and the positive results achieved in gender financing. He highlighted that the loan would accelerate the financing of women-led businesses, particularly in regional areas, fostering competitiveness and inclusivity in Georgia’s business environment.

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