Business
TBC and Proparco sign a EUR 100 mln loan agreement
TBC and Proparco sign a EUR 100 mln loan agreement.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n\nTBC and Proparco sign a EUR 100 million loan agreement\n \nTBC Bank Group PLC (\"TBC PLC\") announces that its subsidiary, JSC TBC Bank (\"TBC Bank\"), has signed a loan agreement in the amount of EUR 100 million with Proparco. The loan facility bears a maturity of seven years and will be primarily used to finance climate related investments and female entrepreneurs in Georgia. The facility will reaffirm TBC's leadership position in the Georgian banking sector for green and sustainable lending and contribute to inclusive economic growth in the country.\n \nVakhtang Butskhrikidze, CEO of JSC TBC Bank, said: \"We are proud to announce completion of another excellent transaction with Proparco- already our third successful project together. This Facility reflects both institutions' strong commitment to support the sustainable growth of local businesses, particularly improving access to finance for female entrepreneurs and promoting green investments in Georgia, thereby, contributing to job-creation and bringing long lasting benefits to the country. The signing of this facility is a significant milestone in our partnership, and we look forward to working with Proparco on many more successful deals in the future.\"\n \nStéphane Froissardey, Regional Director for Turkey, Caucasus, Central Asia, Balkans and Eastern Europe, said: \"Proparco is very proud to sign this new EUR 100 million transaction with TBC Bank. This facility will support TBC's efforts to grow its sustainable portfolio, targeting both climate and gender finance, which are key priorities for Proparco in the region. This landmark transaction is by far Proparco's largest financing in the country, following which Proparco is becoming TBC's third largest lender. Proparco's facility represents a commitment from France to support responsible and sustainable players in the financial sector and, more generally, to stand by the Georgian nation as a whole, at a critical time when Georgia is being granted candidate status by the EU.\"\n \nAbout Proparco\nProparco, a subsidiary of Agence Française de Développement Group, has been working with the private sector for over 45 years for a more just and sustainable world. With an international network of 23 local offices, Proparco works closely with its partners to build sustainable solutions in response to enviro...