Bank of Georgia receives $50M from Citibank to support SMEs
Baku, Azerbaijan, August 14
By Tamilla Mammadova – Trend:
The Bank of Georgia has been provided $50 million from Citibank to help small and medium businesses in the country, Trend reports citing commersant.ge.
The transaction took place under the Continuing Agreement for Reimbursement of Trade Advances ("CARTA"), signed between the Bank of Georgia and Citibank in 2011, and is the third successful transaction between the parties.
“I am glad that the Bank of Georgia continues to work closely with its loyal trading partner Citibank. This allows us to further strengthen our position in the field of trade finance and offer our customers individual financial resources. Such financing is important for both companies and SMEs that are actively involved in export-import operations. Our goal is to remain a reliable financial partner for Citibank,” said the head of the Bank of Georgia Archil Gachechiladze.