The FINANCIAL interviewed Giorgi Kvirikashvili, Cartu Bank General Director.
Cartu Bank, one of the leading banks in Georgia, is launching a national manufactory assistance program. According to the bank’s General Director, the project budget is USD 100 million.
Discount credits are available for small and medium enterprises as well as for start-up businesses. The FINANCIAL interviewed Giorgi Kvirikashvili, Cartu Bank General Director.
"Paving the ground to Georgian business development has been the mainstream mission of Cartu Bank since its very foundation. Today our aim is to play a special role in contributing to the development of the country’s highly-priority sectors. Hence, we have worked out a strategy of providing high-quality exclusive financial service offers to juridical persons, corporations and companies.
We have a full-service diversified packet of banking services. The bank is in constant search of innovative financial solutions to offer to our clients. To those who are well familiar with us, it’s a doubtless fact that Cartu Bank has highly professional, motivated staff oriented at the country’s future development.
Taking into account all the above-mentioned factors, we dare say that Cartu Bank is a distinguished financial institution creating serious service standards in Georgia".
Q. As far as we’re aware, Cartu Bank has presented an import-replacing manufactory support program, could you please share the details?
A. Launching these types of projects is what we consider to be the best means of inciting financial institutions to support manufactory development in our country. On its side, it can become a guarantee of accelerating the employment system and letting people find the best creative usage of banking credits. That’s the basis for the country’s growth economic potential and a real support for the employment problem.
Q. What are the main attractions about the program?
A. We issue relatively lower interest rate credits in the frame of the program. The loan coverage conditions are individual for each concrete business. The same program allows the bank to finance start-up businesses.
Q. As you mentioned, the bank will finance different types of businesses. Please, define which enterprises or companies can benefit from your financial support?
A. Cartu Bank’s financial support is accessible for the following profile companies: food manufacturers, light industry, companies involved in the production of alcoholic and non-alcoholic drinks, construction materials, furniture, plural plastics, and polyethylene. We’ll also finance pharmaceutical and hygiene goods producers.
The projects presented by the local representatives of these large-scale manufactory groups, who’ll implement the constructions of small hydro-stations, will be financed.
I’d like to make it clear that the credit is available in the national currency as well as the EUR and USD. We’ll have exclusive projects with the companies, which might turn out to be very beneficial for all involved.
Q. What are the criteria that companies should meet in order to become eligible for your services?
A. The requirements are not that strict. The particular company applying for the credit must have at least 6 months of experience in regards to the project proposed. In addition, the company must be using Cartu Bank’s salary services and must be operating its turnover at our bank.
The program budget is as large as USD 100 million.
Q. Who should the interested company address?
A. Cartu Bank’s Head Office is the only proper place to address. I hope the financial support will serve as a serious motivation for the further growth of Georgian business potential. Georgian business should not be limited to only several directions, national manufactories can to a great extent replace the import on which the country’s economy is greatly dependant on today.
Once again, I’d like to stress that the program can play a significant role in improving the economic condition of the lives of average statistic persons, which will in its turn positively affect the country’s economic potential.