Posted: 3 years ago

Georgia Healthcare Group signs US$ 25 million loan agreement with EBRD

Georgia Healthcare Group PLC ('GHG' or 'the Group') announces that it has signed a US$ 25 million 2-year loan agreement with European Bank for Reconstruction and Development, to fund potential working capital and operational expenditure requirements for the Group's important role in fighting the coronavirus pandemic in the country.

As the largest healthcare provider in the country, we realise our responsibility within Georgia to help combat the Coronavirus (COVID-19) epidemic and have developed a significant Group-wide action plan. The plan includes the adaptation of six of our hospitals for Covid-19 centres as well as increasing our stock levels to ensure that we have enough medicines and major consumables in the country, in case of a significant virus outbreak.

'I want to thank the EBRD, our longstanding partner, with whom we have completed another successful transaction. The allocated funds will enable us to support the country to combat the coronavirus epidemic, maintain strong liquidity and service quality in order to properly address our patients' and customers' needs, and protect the well-being of our citizens,' commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.

Catarina Bjorlin Hansen, EBRD Regional Director for the Caucasus, said: 'GHG is our longstanding client and we are delighted to strengthen its operations. Solid healthcare infrastructure is paramount at this challenging time and with this project we invest in people, in saving lives and in their futures.