(Alliance News) - Georgia Healthcare Group PLC on Monday said it has secured a USD25 million loan from the European Bank for Reconstruction and Development.
The healthcare services, pharmacy and medical insurance provider said the two-year loan will be used to fund working capital and operational expenditure amid the Covid-19 pandemic.
It added that the amount will be used to implement a plan which includes the adaptation of six of its hospitals for Covid-19 centres as well as increasing the stock levels of medicines and major consumer products.
"I want to thank the EBRD, our long-standing partner, with whom we have completed another successful transaction. The allocated funds will enable us to support the country to combat the coronavirus epidemic, maintain strong liquidity and service quality in order to properly address our patients' and customers' needs, and protect the well-being of our citizens," said Chief Executive Nikoloz Gamkrelidze.
Shares in Georgia Healthcare were trading 14% higher at 92.00 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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