Bank of Georgia'a Ameriabank secures EUR 105m loan deal
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.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.