Bank of Georgia unit signs $200 million five-year loan with ADB, JICA

By Marisa Wong

Los Angeles, Dec. 9 – Bank of Georgia Group plc announced that subsidiary JSC Bank of Georgia has signed a $200 million five-year loan agreement with Asian Development Bank and the Japan International Cooperation Agency.

The purpose of the facility is to support micro-, small- and medium-sized businesses in Georgia, including female-led enterprises, by providing access to long-term finance to minimize the impact of the Covid-19 pandemic-related economic implications in Georgia.

Half of the facility is also available for disbursement in local currency and promotes access to increasingly demanded long-term local currency funding.

The bank has headquarters in London and operations mainly in Georgia and Belarus.

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