14th Oct 2022 06:55
TBC Bank Group PLC - FTSE 250-listed Tbilisi, Georgia-headquartered lender - Subsidiary JSC TBC Bank signs USD30 million loan guaranty agreement with United States Agency for International Development, or USAID, and with US International Development Finance Corp, or DFC. Aim is to increase access to finance for Georgian enterprises. Focus is on "women-led businesses, startups, and development of Georgia's regions," TBC says. Expects the guaranty to create thousands of "high-value" jobs.
"DFC's guaranty for TBC Bank, made in collaboration with USAID, will boost much-needed financing for Georgian small businesses. The focus on rural, underserved regions, and woman-owned businesses will promote inclusive economic growth and sustainable development across Georgia," says DFC Chief Executive Officer Scott Nathan.
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By Tom Budszus; [email protected]
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