Credo Signed Four Million Euro Loan Agreement with KFW
Credo has been honored to sign cooperation agreement with the World’s leading financial institution KFW. The program aims at provision of 4mln euro subordinated loan to Credo for development of agriculture financing. Consequently, it contributes to the economic growth of micro, small, and medium businesses in rural Georgia.
KFW is a state development bank of German Federal Republic. Since founding in 1948, it has been supporting change and encouraging forward looking ideas in Germany, Europe, and throughout the World. KFW has provided nearly one trillion Euros in loans over 60 years. (History of KFW. http://www.kfw.de/. 04.2012 )
With years of experience in providing loans to agriculture businesses, Credo will further emphasize commitment to its mission of encouraging creation of income and employment opportunities for the poor in rural Georgia. The loan will support agriculture micro, small, and medium sized enterprises which generate income from the production, processing or sales of agricultural products and livestock.