TBC Bank receives accreditation by Green Climate Fund
TBC Bank Group PLC (“TBC PLC”) is pleased to announce that its subsidiary, JSC TBC Bank (“TBC Bank”), has received accreditation by the Green Climate Fund (GCF). TBC Bank is among ten companies worldwide that have acquired this prestigious status from GCF this year, making it the first commercial bank in the Caucasus region to receive the accreditation.
The accreditation will enable TBC Bank to have direct access to GCF funding to finance projects for adaptation to, and mitigation of, climate change and play a leading role in supporting sustainable development in Georgia.
Vakhtang Butskhrikidze, CEO of TBC Bank, commented: “We are proud to become the first commercial bank in the Caucasus region accredited by the Green Climate Fund. This will enable us to utilize the potential of climate finance and build climate resilience in Georgia with the support of our new partner, GCF. This achievement once more underlines our commitment to run our business in a responsible and sustainable manner and to contribute towards combating climate change.”
About Green Climate Fund
GCF is a global fund created by the 194 signatories to the UN Framework Convention on Climate Change (UNFCCC) in 2010. The goal of the fund is to support developing countries in responding to the challenges of climate change and to help reduce their greenhouse gas (GHG) emissions. GCF aims to catalyze a flow of climate finance to invest in low-emission and climate-resilient development, through its Accredited Entities.
For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC (“TBC PLC”)
TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE Small Cap Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.
TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 38.5% of loans and 39.8% of non-banking deposits as of 31 March 2021, according to data published by the National Bank of Georgia.