TBC Bank and the Dutch development bank FMO have signed a USD 30 million Nasira portfolio guarantee to support local micro, small, and medium-sized enterprises (MSMEs) in Georgia. Co-funded by the European Commission, the Nasira program aims to enhance access to finance for underserved segments, including young entrepreneurs, start-ups, women-owned businesses, and rural enterprises. This partnership underscores TBC’s and FMO’s shared commitment to fostering inclusive economic growth in Georgia.
Strengthening Financial Inclusion
The Nasira portfolio guarantee is a significant step towards strengthening financial inclusion in Georgia. By sharing the credit losses of loan portfolios, the program mitigates risks for lenders, encouraging them to extend credit to underserved segments. This initiative is particularly beneficial for young entrepreneurs and start-ups, who often face challenges in securing funding due to their limited credit history.
TBC Bank, as the largest MSME lender in Georgia, has been at the forefront of introducing innovative financing solutions to the market. The Nasira guarantee will further enhance TBC’s ability to support MSMEs, thereby contributing to the country’s sustainable economic development. The partnership with FMO reflects a long-standing relationship built on mutual trust and a shared vision for financial inclusion.
The Nasira program’s focus on women-owned businesses and rural enterprises aligns with global efforts to promote gender equality and rural development. By providing these segments with access to finance, the program empowers them to grow and thrive, contributing to the overall economic prosperity of Georgia.
A Decade of Partnership
The partnership between TBC Bank and FMO dates back to 2008, marked by numerous successful collaborations aimed at enhancing financial inclusion in Georgia. Over the years, TBC and FMO have worked together on various initiatives, including the establishment of field hospitals and relief flights, to support the country’s development.
The Nasira portfolio guarantee is the latest addition to this long-standing partnership. By leveraging FMO’s expertise in risk-sharing and TBC’s extensive network and market knowledge, the program aims to create a more inclusive financial ecosystem in Georgia. The collaboration also highlights the importance of international partnerships in addressing local challenges and fostering sustainable development.
The successful completion of the Nasira agreement is a testament to the strong and lasting relationship between TBC and FMO. It underscores their shared commitment to advancing financial inclusion and supporting the growth of MSMEs in Georgia.
Empowering the Future
The Nasira portfolio guarantee is not just about providing financial support; it is about empowering the future of Georgia. By focusing on young entrepreneurs, start-ups, women-owned businesses, and rural enterprises, the program aims to create a more inclusive and equitable financial landscape.
The Nasira program also emphasizes the importance of innovation in financial services. By introducing new risk-sharing mechanisms, the program encourages lenders to explore new opportunities and expand their reach to underserved segments. This, in turn, fosters a more dynamic and resilient financial sector, capable of supporting the diverse needs of the Georgian economy.
As TBC and FMO continue to work together, their efforts will undoubtedly contribute to the long-term economic growth and development of Georgia. The Nasira portfolio guarantee is a shining example of how international partnerships can drive positive change and create a brighter future for all.
