23.Jun .2020 13:27

EBRD allocates a loan in amount of up to USD 100 million to JSC TBC Bank

EBRD allocates a loan in amount of up to USD 100 million to JSC TBC Bank
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The European Bank for Reconstruction and Development (EBRD) allocates a senior unsecured loan in amount of up to USD 100 million to JSC TBC Bank provided in two equal tranches and available in USD or GEL.

The proposed project is an integral part of the Bank's COVID-19 crisis support to Georgia. The proceeds will be used for on-lending to eligible sub-borrowers, preferably SMEs, in line with the Resilience Framework Policy Statement.

The project will support the systemic bank, TBC, to maintain uninterrupted lending to real economy, especially to MSMEs, both regional and urban businesses, to withstand the negative consequences brought by COVID-19 pandemic crisis.