EBRD Expands Green Financing In Georgia With Loan To TBC Bank
Date
10/22/2024 12:11:10 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 22. The European Bank
for Reconstruction and Development (EBRD) has announced a loan of
$25 million in Georgian lari (GEL) to TBC bank to support private
businesses in Georgia, Trend reports.
The funding will enhance access to local-currency financing for
companies looking to invest in energy efficiency, renewable energy,
and climate resilience initiatives.
Georgia's commitment to addressing climate change aligns with
the EBRD's strategic priorities across the economies in which it
operates. The private sector plays a crucial role in expanding
green investments, and through this partnership, the EBRD aims to
reach more small and medium-sized enterprises (SMEs) in the
region.
TBC Bank, listed on the London Stock Exchange, is one of
Georgia's leading financial groups, offering a broad range of
traditional and digital financial services. The bank has a strong
foothold in retail banking, MSME finance, and corporate
banking.
As a key institutional investor in Georgia, the EBRD has
invested nearly 5.3 billion euros across 301 projects, with 82
percent of those directed towards the private sector, spanning
financial, corporate, infrastructure, and energy sectors.
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