Posted: 1 month ago

TBC and FMO Sign Memorandum of Cooperation

A significant memorandum of cooperation has been sealed between TBC and FMO, the esteemed Dutch Entrepreneurial Development Bank. This momentous occasion took place in Amsterdam during FMO's event, "Waves of Change" — a forum that congregates representatives from the world's premier financial institutions.

Among the attendees were TBC's Deputy General Director, Giorgi Megrelishvili, and the Head of Relations with Financial Institutions, Keti Bitskinashvili.

Serving as the Netherlands' entrepreneurial development bank, FMO is at the forefront of bolstering sustainable development within the private sectors of burgeoning markets. Its primary focus revolves around three pivotal sectors that have the potential to drive substantial national development: financial institutions, energy, and the nexus of agribusiness, food, and water.

The "Waves of Change" gathering orchestrated by FMO offers an invaluable nexus for financial professionals from over 60 global territories. It provides them with a dynamic platform to exchange insights and expertise. It was within this vibrant milieu that the partnership memorandum between TBC and FMO was inked.

Reflecting on this partnership, Giorgi Megrelishvili, Deputy General Director of TBC, remarked, "Our enduring and fruitful alliance with FMO, which traces back to 2006, fills me with pride. Over the years, FMO has allocated resources exceeding $450 million to TBC, encompassing both subordinated and local currency-based loans. The memorandum we've ratified today encapsulates two salient transactions: the mobilization of a subordinated loan to bolster the bank's capital and a guarantee scheme tailored to fortify micro, small, and medium-sized enterprises. A special emphasis within this initiative is placed on supporting small businesses and women entrepreneurs in the region. Our gratitude to FMO is profound, and we ardently look forward to spearheading myriad innovative initiatives in our shared journey ahead."