30th Apr 2015 09:54
LONDON (Alliance News) - FTSE 250-listed Bank of Georgia Holdings PLC on Thursday said it has signed a EUR40 million loan agreement with the European Investment Bank.
It will use the proceeds from the loan to finance investment projects involving micro and SME companies based in Georgia.
"We are very pleased to start cooperation with the European Investment Bank, especially in light of Georgia's increasing economic and political ties with the EU, which has become the country's largest trading partner," said Bank of Georgia Chief Executive Irakli Gilauri.
"The EUR40 million loan, earmarked for financing our micro & SME customers, will enable us to further increase our competitiveness in the sector and support growth and job creation," Gilauri added.
Shares in Bank of Georgia were down 0.2% to 1,819.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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