IFC, EBRD convert part of loans into Bank of Georgia’s equity
Georgia, Tbilisi, March 29 / Trend, N.Kirtskhalia /
A joint press conference of the International Finance Corporation (IFC-a member of the World Bank), the European Bank for Reconstruction and Development (EBRD) and the Bank of Georgia, dedicated to the conversion of the IFC and EBRD's loans into equity of the Bank of Georgia will be held today.
This will contribute to strengthening the bank's capital, increasing competitiveness and expanding the organization's operations that aims at supporting the country's financial sector.
The press conference will be attended by Deputy Director General of the Bank of Georgia Archil Gachechiladze, Director of IFC's Europe and Central Asia Department Tomasz Telma and EBRD Country Director for the South Caucasus, Moldova and Belarus Paul-Henry Forester.