EBRD loans $20mln to Georgia’s TBC Bank for women-led businesses
The European Bank for Reconstruction and Development has granted a $20 million loan to TBC Bank for women-led enterprises outside Tbilisi. Photo: Nino Alavidze/Agenda.ge
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The European Bank for Reconstruction and Development has granted a $20 million loan to TBC Bank, one of Georgia’s largest banks, for women-led enterprises outside the capital city of Tbilisi.
The EBRD said on Tuesday the loan was part of its Women in Business programme, supported by the European Union and Sweden.
Building an inclusive and sustainable economy remains one of the EBRD’s priorities, and women entrepreneurs are an important driver of economic growth in Georgia. With today’s signing, we look forward to seeing more female leaders bringing their business ideas to life”, Francis Malige, the EBRD Managing Director for Financial Institutions, said.
The EBRD is a leading institutional investor in Georgia, with over €5 billion across 287 projects in the country to date.
The first gender bond in the South Caucasus region is being launched in Georgia to support women-owned businesses with $7 million support of the Asian Development Bank, the ADB announced on Monday.
Ongoing and future projects financed by the EBRD in Georgia were discussed on Wednesday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development.
Levan Davitashvili, the Georgian Economy Minister, and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development, on Wednesday discussed the Bank’s activities in Georgia, its financial contributions over the years, and ongoing and planned large investment projects involving the country.
The European Bank for Reconstruction and Development has allocated a sovereign loan of €50.6 million, including an investment grant of about €5 million, from its Green Climate Fund to finance the renovation of up to 12 metro stations in the Georgian capital city of Tbilisi, the Bank announced on Tuesday.
The United Nations Women Georgia Country Office will host its second exhibition for sale of products and services created by women entrepreneurs at the Expo Georgia fairgrounds in Tbilisi this weekend, the organisation said on Tuesday.