ADB Targets Georgia’s Regional Growth with GEL120 Million Credo Bank Loan

The financing addresses a critical gap for rural businesses that often struggle to secure credit with repayment periods suited to their growth cycles. For owners earning revenue in lari, borrowing in a foreign currency creates dangerous exposure to market fluctuations; this agreement mitigates that risk, allowing enterprises to focus on expansion rather than currency hedging. ADB Country Director Lesley Bearman Lahm emphasized that the partnership prioritizes rural communities and women-owned firms, ensuring that economic development reaches beyond the capital’s central business districts.

Since 2015, the collaboration between the ADB and Credo Bank has centered on microfinance and agricultural support, even providing a buffer for local businesses during the economic strain of the pandemic. Credo Bank CEO Zaza Pirtskhelava noted that this infusion of capital will accelerate the bank’s ongoing digital innovation efforts. As the ADB’s largest multilateral partner in Georgia, the bank has now funneled over $6 billion into the country, with this latest transaction falling under its 2024–2028 strategy to foster a more inclusive regional economy.