JSC Bank of Georgia signs GEL 100 million 5-year loan agreement with IFC

Bank of Georgia Group PLC (“the Group“) announces that JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) and the International Finance Corporation (“IFC”), a member of the World Bank Group, have signed a GEL 100 million loan agreement with a maturity of 5 years. The facility will support the local currency needs of Georgian micro, small and medium sized enterprises (MSMEs). The investment is supported by the Women Entrepreneurs Opportunity Facility, a pioneering global initiative by IFC and Goldman Sachs Foundation to expand access for women entrepreneurs. Under the facility, 25% of the loan is dedicated to serve female entrepreneurs. IFC will raise the local currency funds through a private placement of GEL-denominated bonds to be arranged by Galt & Taggart – a wholly owned brokerage subsidiary of the Group. The first transaction under this facility was signed between the Bank and IFC in August 2019.