Bank of Georgia Group raises US$ 25 million 5-year financing from GGF

Bank of Georgia Group PLC (“the Group“) announces that the Group has co-operated with the Green for Growth Fund (“GGF”) to gain additional long-term funding totalling US$ 25 million to finance micro and small enterprises, large businesses and public entities in Georgia. The 5-year facility from GGF will primarily serve the working capital financing and investment needs of Georgian enterprises, municipalities or public sector entities and will target energy efficient projects which will result in more than 20% energy savings.

Kaha Kiknavelidze, Group CEO commented: “I am pleased that we have once again joined efforts with GGF to create a range of products for our clients that will be directed at financing energy efficient projects in Georgia. This is our second co-operation with GGF, which will significantly contribute to the further improvement of our environmental footprint. I would like to thank our partner for their contribution in supporting the further development of Georgian enterprises.”