Business
TBC and Proparco sign a USD 50 mln loan agreement
TBC and Proparco sign a USD 50 mln loan agreement.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2886A\n TBC Bank Group PLC\n 01 February 2022\n \n \n \n \n TBC and Proparco sign a USD 50 million loan agreement to support SMEs in Georgia\n \n \n \n \n \n TBC Bank Group PLC (\"TBC PLC\") announces that its subsidiary, JSC TBC Bank (\"TBC Bank\"), has signed a loan agreement in the amount of USD 50 million with Proparco. The facility will finance investments and the working capital needs of Georgian small and medium-sized businesses (SMEs).\n \n \n \n \n \n TBC Bank being the number one player and contributor in all segments offering diversified product range to businesses, including SME, this facility will enable to further support this segment and strengthen its position on the market. This transaction further reinforces partnership between Proparco and TBC Bank. \n \n \n \n \n \n Vakhtang Butskhrikidze, CEO, TBC Bank, commented: \n \n \n \"We are delighted to continue and further strengthen our cooperation with Propacro. This transaction reflects both institutions' strong commitment to support, small and medium-sized enterprises (SMEs) in Georgia, one the most important contributors to economic growth and job creation in the country. This is our second co-operation and we look forward to working with Propacro on many more successful deals in the future.\"\n \n \n \n \n \n Stéphane Froissardey, Regional Director for Turkey, Caucasus, Central Asia, Balkans and Eastern Europe:\n \n \n \"We are glad to renew our collaboration to support the Georgian SME sector, through a credit facility that will be 100% on-lent by TBC to its SME clients! It will support and encourage the bank's strategy towards SMEs, and strengthen the partnership started between our institutions 10 years ago.\n \n \n \n \n \n About Proparco\n \n \n Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group). It has been promoting sustainable economic, social and environmental development for over 40 years. Proparco provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East. Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial institutions, health and education. \n \n \n \n \n \n Its operations aim to strengthen th...