EBRD, Bank of Georgia Promote Green Investments

The European Bank for Reconstruction and Development (EBRD) is lending US$ 35 million to Bank of Georgia to support Georgia's economic growth and strengthen the financial sector's resilience.

Photo Insert: "This is our first ever Additional Tier 1 transaction and we're delighted to do this in green format with our long-standing partner," said Francis Malige, the Managing Director, Financial Institutions for the EBRD.

Swedfund, Sweden's Development Finance Institution, will contribute an additional US$ 15 million, bringing the total loan amount to US$ 50 million. The loan will increase the Bank of Georgia's capital base and resilience, allowing it to support a continuous flow of credit to the real economy.

Bank of Georgia commits to investing $50 million in green investments that meet the EBRD's Green Economy Transition eligibility criteria. As a regional climate finance leader, the EBRD will also fund a technical cooperation program to assist the Bank of Georgia in its green economy financing initiatives. Bank of Georgia is one of Georgia's largest and most systemically important universal banks, with a track record of strong and stable returns.

The EBRD has had a successful relationship with its partner financial institution for over two decades. Bank of Georgia was the first Georgian bank to be listed on the London Stock Exchange in 2006. To date, the EBRD has invested nearly €4.8 billion in Georgia through 269 projects, with the private sector accounting for 80% of the total. The financial sector, sustainable infrastructure, and small and medium-sized enterprises (SMEs) are among the key areas of investment for the Bank.

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