Photo/ Davit Kukhianidze
TBC Bank Group PLC claimed it has signed three loan agreements for a total of USD100 million, denominated in Georgian lari, together with the European Bank for Reconstruction & Development.
The European bank will supply the funds through three loan facilities, with USD60 million in lari to help with implementation of your guidelines in the EU Deep & Comprehensive Free Trade Area in Georgia, USD20 million denominated in lari to service specifically women-led businesses, and USD20 million denominated in lari the strain support small and medium enterprise financing in Georgia.
This funding enables TBC Bank to give long term loans in local currency, it said.
“We\’ve been delighted to continue our successful partnership with European Bank for Reconstruction & Development. Option local currency funding is essential for any Georgian financial sector and we\’re proud to acquire our longstanding partner, EBRD, arrange this complex transaction for TBC Bank. These facilities may help TBC Bank to help promote strengthen its leading position for the Georgian market,” said Vakhtang Butskhrikidze, top dog of TBC Bank.
Shares in TBC Bank were up 0.8% at 1,461.00 pence Friday afternoon.