EBRD to enhance Bank of Georgia’s capital base
The European Bank for Reconstruction and Development (EBRD) is lending US$ 35 million to Bank of Georgia to support Georgia’s economic growth and enhance the resilience of its financial sector.
Sweden’s Development Finance Institution (Swedfund) will provide an additional US$ 15 million, taking the total loan amount to US$ 50 million.
The loan will optimise Bank of Georgia’s capital base and enhance its resilience to support a continuous flow of credit to the real economy.
Bank of Georgia undertakes to deploy an amount equivalent to the received capital loan (US $ 50 million) to green investments that meet EBRD’s eligibility criteria for Green Economy Transition. The EBRD will also provide a grant for a technical cooperation programme to support Bank of Georgia in its green economy financing initiatives.
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