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Bank of Georgia Received a Loan from Swiss Investment Company Symbiotics Totalling 25 Million GEL

Bank of Georgia Received a Loan from Swiss Investment Company Symbiotics Totalling 25 Million GEL

JSC Bank of Georgia has secured a loan from Swiss investment company Symbiotics totaling GEL25 million.

According to BGEO Group, the sum will be used to support Georgia’s micro, small, and medium sized businesses with increasing local currency financing needs.

“We are very proud to partner with such a reputable and leading financial institution as Bank of Georgia, and glad to support the growth of Georgian micro, small and medium sized enterprises via this local currency loan in the context of the de-dollarisation of the country”, – Daniel Schriber, Director of Investments at Symbiotics noted.

“I am pleased that Bank of Georgia continues to actively establish new partnerships with financial institutions in order to secure local currency financial solutions for its clients and further support the de-dollarisation process in the country. This local currency loan agreement is Bank of Georgia’s first transaction with Symbiotics, and the first step towards long-term successful co-operation”, – Kaha Kiknavelidze, Bank CEO commented.