Georgia, Tbilisi, June 4 / Trend, N.Kirtskhalia /
The International Finance Corporation (IFC) is providing the Bank of Georgia with the opportunity to conduct swap operations in the euro and dollars in the course of two years.
The transaction will allow the bank to better manage its euro deposits and offer customers a broader range of deposit products, which will contribute to the development of Georgia's financial system.
This is the first IFC deposit project in Georgia, and will be implemented under an agreement signed between the IFC and the Bank of Georgia in 2009.
The project is part of the IFC strategy, which aims to offer customers innovative products to improve governance risks in Europe and Central Asia.
"The transaction will ensure foreign exchange risk management by improved methods and reduce risks," Bank of Georgia General Director Irakli Gilauri said.
IFC Representative in the Caucasus Thomas Lubeck said "we are pleased to draw up an agreement with our long-term partner because this innovative project will help the bank and will be a good example of what kind of services we offer to our customers."