Deepesh Patel
May 28, 2025
At the European Bank for Reconstruction and Development (EBRD) Trade Facilitation Programme (TFP) Day and Awards Ceremony in London, Trade Treasury Payments (TTP) Editor Deepsh Patel spoke with Tamara Khizanishvili (TK) from TBC Bank in Georgia and Arda Türerer from Burgan Bank in Türkiye.
Deepsh Patel (DP): You’re both from very different markets – Georgia and Türkiye. What common challenges and opportunities do you see in supporting small- and medium-sized enterprises (SMEs) via factoring and trade finance?
Arda Türerer (AT): In Türkiye, like in many emerging markets, SMEs often struggle with limited access to working capital and face complex trade procedures. Factoring and trade finance can play a key role in bridging this gap by offering faster liquidity and reducing risk in transactions. A common challenge is raising SME awareness and trust in these solutions, but with the right digital tools and education, there’s strong potential to scale support and boost their participation in both domestic and international trade.
Tamara Khizanishvili (TK): From TBC’s perspective, supporting businesses in Georgia through factoring and trade finance presents both real challenges and exciting opportunities. One of the key challenges we see is still a lack of awareness or understanding of how these financial tools work. Factoring, for example, is sometimes misunderstood or underutilised because of concerns about cost or complexity. Additionally, Georgia does not have factoring legislation, and there are no factoring companies on the market.
However, at TBC, we see this as an opportunity to lead, not just to provide financial products but to educate and support customers. TBC, as a partner, always stands by businesses and helps them find the best financing solution.
We’re investing heavily in digitalisation to make access to these services faster, more transparent, and tailored to the needs of corporates and SMEs. By making trade finance more accessible and better understood, we help businesses to grow.
DP: Arda, how is Burgan Bank responding to digital transformation in trade?
AT: At Burgan Bank, we are taking digital transformation very seriously, especially in trade. We’re currently working with the EBRD on a Trade Digitalisation project where we were selected as a pilot bank.
A tech company is reviewing our internal processes and digital tools, and based on their findings, we will receive tailored recommendations to help us improve and modernise our systems.
DP: Tamara, can you talk about digital factoring in Georgia?
TK: Absolutely. Digital factoring in Georgia is a growing and transformative solution, and at TBC, we’re proud to be at the forefront of that shift. Traditionally, factoring has been a paper-heavy, manual process – slow, costly, and often intimidating for businesses. But with digitalisation, we’re changing that.
Digital factoring allows businesses to get faster access to working capital by simply uploading their invoices through an online platform. At TBC, we’ve developed user-friendly digital channels that allow clients to submit requests, track their financing status, and receive funds, all without stepping into a branch.
The financing request approval process is automated, and funding can happen within 30 minutes. Clients can see exactly how their invoices are being handled, what fees apply, and when funds will arrive. This fully responds to TBC’s main goal – to make people’s lives easier
DP: Arda, how is Burgan Bank using trade loans and guarantee instruments to support exporters amidst geopolitical disruptions?
AT: Burgan Bank is partnering with international financial institutions (such as the EBRD, IFC, and ADB) to better support its clients, particularly in countries or projects where political and financial risks are present. In today’s unpredictable global environment, our priority is to continue assisting exporters by offering tailored financing solutions. We use trade loans and guarantee instruments to mitigate political and commercial payment risks, helping ensure smoother and more secure transactions, even in high-risk markets.
DP: Tamara, what role do partnerships, especially with institutions like the EBRD, play in de-risking trade in your markets
TK: Partnerships with institutions like the EBRD play a critical role in de-risking trade and expanding access to trade finance in Georgia. At TBC, these collaborations allow us to offer more competitive and flexible solutions to SMEs and corporates engaged in cross-border trade.
In 2023, EBRD provided TBC with its first Trade Facilitation Programme (TFP) factoring facility in local currency. This facility allows us to increase our domestic factoring financing for SMEs. The EBRD also provides trade finance guarantees and risk-sharing mechanisms that allow us to support transactions we might not be able to finance on our own.
These partnerships also support innovation. Through technical assistance and capacity-building programs, we’re able to improve our internal systems, enhance compliance, and adopt global best practices, making trade finance more accessible, secure, and efficient.
In short, the EBRD and similar partners act as enablers. They help us take a more inclusive approach to trade finance, reaching more businesses, reducing risk, and ultimately contributing to Georgia’s broader economic integration and resilience.
DP: Arda, what’s one innovation or product area you’re particularly excited about this year?
AT: One project I’m really excited about is our work on the digital bill of exchange, supported by EBRD. We’re co-developing a new platform with a correspondent bank to make this product fully digital. Once it’s ready, we’ll offer it first to clients with high transaction volumes. It’s a big step forward for more efficient and paperless trade finance.
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