BAKU, Azerbaijan, June 23
By Tamilla Mammadova – Trend:
European Bank for Reconstruction and Development (EBRD) has allocated a senior unsecured loan in amount of up to $100 million to JSC TBC Bank of Georgia provided in two equal tranches and available in USD or lari, Trend reports referring to TBC Bank.
The proposed project is an integral part of the bank's COVID-19 crisis support to Georgia.
The proceeds will be used for on-lending to eligible sub-borrowers, preferably small and medium-sized enterprises (SMEs), in line with the Resilience Framework Policy Statement of EBRD.
The project will support the TBC bank to maintain uninterrupted lending to real economy, especially to SMEs, both regional and urban businesses, to withstand the negative consequences brought by COVID-19 pandemic crisis.
TBC Bank is a Georgian bank headquartered in Tbilisi, Georgia. The name of TBC Bank traces its root to its original name, Tbilisi Business Center dating back to 1992.
---
Follow the author on Twitter: @Mila61979356