IN BRIEF: Lion Finance Group subsidiary signs two loan agreements
Lion Finance Group PLC - London-based Georgian and Armenian financial services company - Says subsidiary JSC Bank of Georgia signs two loan agreements with International Finance Corp totalling USD118 million. The first loan is a USD58 million multi-currency facility available in US dollars or Georgian lari, while the second is a USD60 million US dollar facility. Both have five-year terms from disbursement and carry floating interest rates. At least 30% of the proceeds must be directed to micro, small and medium-sized enterprises in rural Georgia. The funding will support the financing, development and job creation potential of smaller businesses across the country. Bank of Georgia Chief Finance Officer Giorgi Shagidze says: "These loan agreements will enable us to further expand access to finance for [micro, small and medium-sized enterprises] across the country, with dedicated funding for rural businesses underscoring our shared commitment to building a sustainable and inclusive economy." Read More