8th Aug 2019 10:32
(Alliance News) - Bank of Georgia Group PLC said Thursday unit JSC Bank of Georgia and International Finance Corp have signed a GEL100 million, about GBP28 million, loan agreement to support the local currency needs of Georgian micro, small and medium sized enterprises.
The loan agreement has a maturity of 5 years and is supported by the Women Entrepreneurs Opportunity Facility, a global initiative by the International Finance Corp and Goldman Sachs Foundation to expand access for female entrepreneurs.
Under the agreement, 25% of the loan is dedicated to serve female entrepreneurs.
International Finance Corp will raise the local currency funds through a private placement of GEL-denominated bonds to be arranged by Galt & Taggart - a brokerage subsidiary of Bank of Georgia Group.
Shares in Bank of Georgia Group were trading 1.6% higher at 1,380.00 pence each on Thursday in London.
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