JSC Bank of Georgia raises GEL 160 million local currency funding from FMO
BM.GE
01.08.18 18:39
• 1098
Bank of Georgia Group PLC ("the Group") announces that JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) continues to attract GEL-denominated funding as the Bank and Dutch development bank, Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (“FMO”) have signed a GEL 160 million loan agreement with a tenor of five years. The local currency loan facility will reinforce the growth of the Bank’s local currency denominated loan portfolio, which underlines the Bank’s commitment to support further de-dollarisation of Georgia’s economy. FMO raised the local currency funds through a public placement of GEL-denominated bonds on the Georgian Stock Exchange arranged by Galt & Taggart, the Group’s wholly owned brokerage arm.
