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TBC Bank Signed 30 Million Euro Loan Agreement with European Investment Bank

TBC Bank and the European Investment Bank (EIB) signed a 30 million loan agreement. Resource maturity is 5 years and it will be used to finance small and medium businesses.

“We are pleased to have such a successful partnership with the European Investment Bank. This is the fourth transaction that has been implemented since 2012 by our institutions. Resource will be used for financing small and medium enterprises, which will further strengthen TBC Bank’s position in this segment in Georgia, “said TBC Bank’s CEO Vakhtang Butskhrikidze.

“With the financing of TBC Bank, the EIB promotes the goal of EU foreign policy in stabilizing and promoting private sector in the Eastern Partnership region. With this transaction the long-term financing of Georgian small and medium-sized enterprises increases, which will have a positive impact on their growth and competitiveness, more jobs will be created and the Georgian economy will grow, “said EIB Vice President Vazil Hudak.