Bank of Georgia'a Ameriabank secures EUR 105m loan deal

(Sharecast News) - Bank of Georgia Group announced on Monday that its Armenian banking subsidiary Ameriabank has secured a €105m loan agreement with the European Investment Bank (EIB Global). The FTSE 250 company said the financing would support micro, small, and medium-sized enterprises (MSMEs) and mid-cap companies in Armenia by facilitating investment in growth, enhancing competitiveness, and promoting sustainable business practices.

At least 20% of the loan was earmarked for green investments, aligning with efforts to encourage environmentally sustainable initiatives.

A portion of the financing would also be available in local currency, mitigating foreign exchange risks for smaller businesses.

"This transaction marks another step in promoting Armenia's dynamic, high-growth economy," said group chief executive officer Archil Gachechiladze.

"As a leading banking franchise in the country, Ameriabank has actively secured funding from IFIs to empower businesses and drive positive social and environmental impact in the country.

"I extend my gratitude to the EIB and Ameriabank teams for their effective collaboration."

At 0808 GMT, shares in Bank of Georgia Group were down 2.31% at 4,645p.

Reporting by Josh White for Sharecast.com.