TBC Raised $ 50 Million to Support Businesses

TBC Bank and French financial institution Proparco have signed a $ 50 million loan agreement. Financial resources will be used to support small and medium-sized businesses in Georgia and to finance their capital needs, which will further strengthen businesses in the country.

The signing ceremony was held at the TBC Concept Space and was attended by TBC General Director Vakhtang Butskhrikidze, Proparco Regional Director and French Ambassador to Georgia Diego Cola.

"We are glad that our partnership with Proparco continues. This transaction reaffirms the readiness of both parties to support the financing of small and medium-sized businesses and to contribute to economic growth and employment in Georgia. This transaction is the second successful partnership with Proparco. I hope we will implement many interesting initiatives together in the future as well, ”said Vakhtang Butskhrikidze, General Director of TBC.

"I am glad that, after a 10-year interval, we will resume cooperation with TBC to support the development of the SME sector in Georgia. This transaction will enable TBC to strengthen its business support strategy and further enhance our partnership. The $ 50 million in financial resources will be fully spent on the needs of business users, ”said  Proparco Regional Director for Turkey, the Caucasus, Central Asia, the Balkans and Eastern Europe.

Proparco is the private sector financing institution of the Agence Française de Développement Group (AFD Group). It has been promoting sustainable economic, social and environmental development for over 40 years. Proparco finances businesses and financial institutions in Africa, Asia, Latin America and the Middle East and contributes to the development of sectors such as infrastructure, renewable energy, agribusiness, health education and more.