---
title: "JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB"
description: "BGEO Group PLC (the Group or BGEO), announces that its banking subsidiary, JSC Bank of Georgia (the Bank or Ban"
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  "og:description": "BGEO Group PLC (the Group or BGEO), announces that its banking subsidiary, JSC Bank of Georgia (the Bank or Ban"
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  "og:image:alt": "JSC Bank of Georgia raises GEL 75 million local currency funding from BSTDB"
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29 Mar 2018

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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.

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