Credo Bank and the Asian Development Bank (ADB) signed a GEL 120 million investment agreement to support micro, small and medium-sized enterprises (MSMEs), including women MSMEs, operating outside Tbilisi. The long-term local currency financing will further strengthen Credo Bank’s lending to MSMEs across Georgia’s regions, increasing access to finance and promoting financial inclusion while reducing foreign currency exposure and risks.
“We are proud to continue our long-standing partnership with the Asian Development Bank, which began in 2015. Over the years, our cooperation through financing and technical assistance has supported MSMEs, their growth and development, while promoting financial inclusion and digitalization across Georgia. This GEL 120 million transaction will further expand access to local currency financing for MSMEs in Georgia’s regions. I would like to thank the entire team involved for their continued trust and contribution,” said Zaza Pirtskhelava, Credo Bank’s Chief Executive Officer.
“Through our ongoing partnership with Credo Bank, ADB ensures that residents of smaller towns and rural communities continue to have access to affordable financing,” said ADB Country Director for Georgia Lesley Bearman Lahm. “This transaction will unlock more business opportunities throughout the various regions of Georgia and contribute to the country’s economic growth.”
Credo Bank is the fifth-largest commercial bank in Georgia. With its wide regional outreach through 97 service centers, it offers fully-fledged and innovative banking services to over 500,000 customers. The Bank’s mission is to support Georgia’s entrepreneurs, their employees and families to create a better future by offering affordable financial services. It is owned by international social impact and development finance institutions: German – Access Credo GmbH, French – Proparco and Japanese – Gojo & Company, Inc.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members — 50 from the region.
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