TBC Bank Signs Loan Agreement 30 mln with EIB

TBC Bank and the European Investment Bank (EIB) signed a loan agreement of EUR 30 million. Resource maturity is five years and it will be used to finance small and medium businesses.

“We are pleased to have such a successful partnership with the European Investment Bank. This is the fourth transaction our institutions have implemented since 2012. Resources will be used for financing small and medium enterprises, which will further strengthen TBC Bank's position in this segment in Georgia,” said the Bank's General Director, Vakhtang Butskhrikidze.

With the financing of TBC Bank, the EIB promotes the implementation of the goal of EU foreign policy to stabilize and support the private sector in the Eastern Partnership region. “With this transaction, support for long-term financing for Georgian small and medium-sized enterprises is on the up, which will have a positive impact on their growth and competitiveness; more jobs will be created and the Georgian economy will grow,” said EIB Vice President Vazil Hudakim.