07.Nov .2022 11:22

Basisbank Receives EUR 15 million from BlueOrchard to support MSME Lending in Georgia

Basisbank Receives EUR 15 million from BlueOrchard to support MSME Lending in Georgia
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Basisbank and the BlueOrchard Microfinance Fund, the flagship fund of leading impact investor BlueOrchard Finance Ltd, signed a 15 million EUR loan agreement to meet investment needs of micro, small and mid-sized companies and provide much needed financial support to businesses for their further development. BlueOrchard and Basisbank have worked together since 2017, and to date, BlueOrchard funds have invested more than 40 million USD towards Basisbank’s continued growth in MSME business lending.

As a result of the new cooperation between Bazisbank, one of the largest financiers of businesses, and BlueOrchard Microfinance Fund, the bank will continue to support Georgian small and medium businesses and make a significant contribution to the development of the country's economy even more effectively.

About BlueOrchard

BlueOrchard is a leading global impact investment manager. As a pioneering impact investor, the firm is dedicated to generating lasting positive impact for communities and the environment. BlueOrchard was founded in 2001, by initiative of the UN, as the world’s first commercial manager of microfinance debt investments. Today, BlueOrchard offers impact investment solutions across asset classes, connecting millions of entrepreneurs in emerging and frontier markets with investors. BlueOrchard has invested to date over USD 9.8 billion across more than 100 countries. 255mn people with low income in emerging and frontier markets received access to financial and related services with the support of BlueOrchard as of June 2022. BlueOrchard is a member of the Schroders Group. For further information, please visit: www.blueorchard.com

BlueOrchard Microfinance Fund

The BlueOrchard Microfinance Fund (BOMF) is the first and today largest private and fully commercial microfinance investment fund worldwide. Microfinance institutions funded by BOMF reach more than 28 million micro-entrepreneurs across over 50 countries providing loan capital, savings, insurance, and related products to households with low income as of September 2022.

About BasisBank

Throughout 29 years of our business operation on the marker, we have grown into a solid universal financial institution. The Group, which also covers Insurance and Leasing markets, delivers high quality service to retail users, as well as Corporate and SME customers. Basisbank closed Q3 2022 with Total Assets well over GEL 3 Billion.