With the help of the IFC, Bank Constanta will expand its financial services to small and medium enterprises in Georgia to boost economic growth and employment.
Under the IFC’s SME banking advisory programme, the IFC will help Bank Constanta create the necessary risk assessment tools that will support the rollout of new products and services.
"The small and medium business sector remains the target segment for Bank Constanta. We began to provide financial services to SMEs in 1997 as a microfinance institution, and continued to increase lending to this sector after transforming into a bank,” says Levan Lebanidze, chief executive officer of Bank Constanta.
Thomas Lubeck, IFC regional head for the Caucasus, adds, “SMEs spur employment and are the key drivers of economic growth in the region. IFC is committed to helping these businesses access finance, and our partnership with Bank Constanta will aid in accomplishing that.”
The IFC’s programme provides advisory services to help banks in building a sustainable and profitable business of servicing
SMEs in Europe and Central Asia. The programme is supported with funds from the Development Bank of Austria.
IFC’s cumulative investments in Georgia to date total US$561mn in 40 projects across various sectors.
Last Updated February 27, 2012
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