TBC Bank and the Black Sea Trade and Development Bank (BSTDB) have signed a USD 10 million loan agreement. This transaction represents the renewal of the small and medium-sized enterprises (SME) financing agreement between the organizations first signed in 2003. The three year facility will be dedicated to financing SMEs in Georgia.
“We are pleased to continue our successful relationship with BSTDB, TBC Bank’s long-standing partner. The renewed SME loan will allow us to continue financing our clients’ small and medium businesses, one of the most important and fast expanding sectors in the country,” commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.
“We are pleased to enhance our partnership with TBC Bank, which has already lasted for twelve years. This third SME loan agreement demonstrates BSTDB’s consistent support for the Georgian economy and its banking sector. Facilitating small business development as a backbone of the market economy will remain our strategic priority in Georgia and other countries of the Black Sea region in the years to come", said Ihsan Ugur Delikanli, BSTDB President.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.
Name of authorized official of issuer responsible for making notification:
Anna Romelashvili, Head of Investor Relations
You can read the full RNS Announcement here.