24.Sep .2021 15:00

EBRD To Provide Unsecured Debt Of EUR 25MLN To TBC Bank

EBRD To Provide Unsecured Debt Of EUR 25MLN To TBC Bank
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The European Bank for Reconstruction and Development (EBRD) will provide unsecured debt of EUR 25 million to TBC Bank to support investment financing for micro-, small and medium sized enterprises ("MSMEs") in Georgia and promote EU standards in the market under the Eastern Partnership SME Competitiveness Programme for sustainable investments in technology and equipment.

The project will enable the company to finance long-term investments of Georgian MSMEs in upgrading their technology and equipment necessary to meet EU standards in terms of product quality, health and safety measures and environmental protection. The Project aims to deliver at least 70% of sub-loans complying with EBRD Green Economy Transition (GET) approach.

TBC Bank ("TBC") holds more than one third of market share in total banking assets, loan and deposit portfolios in Georgia. It offers a wide range of services (including FX transactions, non-financial services to support business development, as well as leasing, brokerage and investment banking via its subsidiaries) to its retail, corporate and MSME clients through its wide distribution network of up to 150 branches and digital channels.