JSC Bank of Georgia signs EUR 45 million Tier-2 subordinated facility agreements

Bank of Georgia Group PLC (the “Company” or the “Group”) announces that its subsidiary, JSC Bank of Georgia  the“Bank” or “Bank of Georgia”) has signed a EUR 25 million subordinated facility agreement (Tier-2) with the Green for Growth Fund (GGF), Southeast Europe S.A., SICAV-SIF, and a EUR 20 million subordinated facility agreement (Tier-2) with the European Fund for Southeast Europe S.A., SICAV-SIF (EFSE).

The maturity of these loans is 10 years. After disbursement, subject to the National Bank of Georgia’s approval, the proceeds of the loans will be included in the Tier 2 capital of the Bank.

The EUR 25 million facility from GGF has a green component and the EUR 20 million facility from EFSE has a component for sustainable economic activities or women majority-owned or led MSMEs, whereby Bank of Georgia will aim, on a best efforts basis, to identify and apply pre-defined amounts to eligible investments.

Archil Gachechiladze, Bank of Georgia CEO, commented: “I would like to thank our long-term partners, GGF and EFSE, for their cooperation. We appreciate their ongoing support for Bank of Georgia and local businesses in Georgia. These facilities enable us to continue empowering our customers, while maintaining a strong capital position.”