JSC Bank of Georgia signs c.GEL 28 million 5-year loan agreement with EBRD

Bank of Georgia Group PLC (“the Group“) announces that JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) and the European Bank for Reconstruction and Development (“EBRD”) have signed a c.GEL 28 million loan agreement with a maturity of 5 years. The facility aims to continue to provide the micro, small and medium sized enterprises the access to increasingly demanded local currency funding and to further support their alignment with the European Union’s Deep and Comprehensive Free Trade Agreement requirements. EBRD obtained the local currency funds through a private placement of GEL-denominated bonds arranged by Galt & Taggart – a wholly owned brokerage subsidiary of the Group. The local currency facility was designed to facilitate on-lending to the Bank’s clients solely in Georgian Lari.