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Home / Banking / Bank of Georgia has Received a New Credit Line From EBRD

Bank of Georgia has Received a New Credit Line From EBRD

Bank of Georgia has attracted a new credit line from EBRD. It’s 135 million GEL credit line, which is valid for 5 years.

This is the second transaction that the bank received from the European Bank for Reconstruction and Development since May 2016. Like the first tranche, the sum will be directed to support small and medium business and female businessmen.

In total, the amount attracted by the bank from EBRD is 242 million GEL. It also notes that the EBRD has been attracted by private placement of denominated bonds in GEL.

Bank Executive Director Kakha Kiknavelidze underlines the cooperation of EBRD, Bank of Georgia and Galt & Taggart. According to him, significant improvement in loan in national currency is observed.

According to de-dolarizarion in the Georgian economy, which will benefit local businesses.