Terabank is the first bank in Georgia to announce FMO’S (Dutch Entrepreneurial Development Bank) NASIRA guarantee program. The program is funded by the European Commission and Dutch Government. It aims to increase access to financial resources for micro, small and medium businesses.
The official signing of the agreement on participation in the program took place on November 9 in Tbilisi. The document was signed by the General Director of Terabank, Thea Lortkipanidze, and the Manager of the NASIRA program of the Dutch entrepreneurial development bank, Anneloes Mullink-Bos. Representatives of international organizations and the diplomatic corps, financial institutions and media attended the event.
FMO’s NASIRA risk sharing program takes the form of a loan portfolio guarantee and supports financial institutions in increasing their lending activities for MSMEs with a focus on underserved business segments, such as smallholder farmers, women-owned and youth-owned businesses, who often have difficulty in access to finance due to higher associated credit risk, lack of collateral and/or historical track record.
Terabank has a long-standing partnership with FMO. The new program will allow the bank to further strengthen the support of its strategic segment — small and medium-sized businesses and to make its own contribution to the development of the country's economy.
