Bank of Georgia signs a EUR 25 million multicurrency loan agreement with EIB

Bank of Georgia Group PLC announces that its subsidiary, JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) has signed a EUR 25 million loan agreement with European Investment Bank (“EIB”) with the maturity of up to seven years (the “Facility”). This represents a top-up on the existing EUR 50 million multicurrency loan facility signed with EIB in December 2019. The Facility can be drawn in Euros, US Dollars, or made available in Georgian Lari. Part of the local currency tranche is also supported by the Neighbourhood Investment Facility of the European Union.

The purpose of the credit is to aid recovery of micro, small and medium sized (MSMEs) and mid-capitalisation enterprises (MidCaps) in Georgia from COVID-19 pandemic, and to finance investment projects important for the local private sector development. The operation is part of the Team Europe’s COVID-19 emergency response to help sustain jobs, maintain liquidity and operations, and fuel the economic recovery of Georgia.