Bank of Georgia Group PLC - Tbilisi, Georgia-based lender - Subsidiary JSC Bank of Georgia signs loan agreement for USD20 million equivalent with European Bank for Reconstruction & Development.
Loan will have a maturity of five years, and go towards investments into small and medium businesses.
"Today we saw yet another milestone in the successful cooperation between Bank of Georgia and EBRD. ERBD has been a strong supporter of local MSMEs, and we are proud that Bank of Georgia was the first financial institution in Georgia to join the EU4Business-EBRD Credit Line programme in 2016. Our goal is to fulfil a variety of the needs of our MSME clients and help them align their businesses with best practices and EU standards," said Chief Executive Officer Archil Gachechiladze.
Current stock price: 2,105.00 pence
12-month change: up 37%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Bank Of Georgia Group (BGEO)
