According to IFC website, the project consists of two products: (i) a revolving 1-year senior loan for an amount of up to US$10 million; (ii) IFC Global Trade Finance Program (GTFP) with initial limit of up to US$2 million. The project would provide trade-related working capital financing to support local SME exporters and importers.
The project is expected to provide increased access to financing for SMEs. On the macro level this will help sustain both import flows of basic goods required by Georgia and critical inputs for the export sector and on the micro level, provide assistance to SMEs to better manage cash flows and assist them to grow competitively in regional and global markets, supporting domestic job creation and diversifying the country's economic base. By providing support to a smaller sized bank the Project is expected to assist in diversifying the banking sector in Georgia.
JSC BasisBank was incorporated in 1993 as a commercial bank by several Georgian individuals. In 2008, 15% of the Bank’s shares were acquired by EBRD. In 2012 the majority stake of the Bank was acquired by the Chinese Hualing Group from its local shareholders. In 2014, EBRD exercised its put option and exited the Bank. As of December 2016 Hualing Group holds a majority 92.78% share in the Bank. Mr. Mi Zaiqi, a Member of Supervisory Board, holds 7% of the Bank’s shares, while BasisBank’s current Management Board holds the rest.
International Financial Institutions Relationship Manager, JSC BasisBank
Telephone No.: (995 32) 922 922+171
Email Address: Ani.Skhirtladze@basisbank.ge
Office Address: 1, Ketevan Tsamebuli Ave., Tbilisi, Georgia
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
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