BGEO Group PLC (the “Group” or “BGEO”), announces that its banking subsidiary, JSC Bank of Georgia (the “Bank” or “Bank of Georgia”) continues to attract GEL-denominated funding as the Bank and Black Sea Trade and Development Bank (“BSTDB”) have signed a GEL 75 million loan agreement, with tranches up to five years duration. The local currency loan facility will be used to finance the development of Georgian small and medium-size enterprises (“SMEs”), which reinforces the Bank’s commitment to support SMEs in Georgia and underpins its leading position in the SME sector. BSTDB 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 subsidiary.
