By Loretta Martikian
Proceeds to help firms meet climate resilience, renewable energy goals
The European Bank for Reconstruction and Development (EBRD) is extending a loan equivalent to US$ 25 million in Georgian lari (GEL) to its long-standing partner, TBC Bank, for on-lending to private businesses in Georgia. The funding will boost local-currency financing opportunities for private companies planning to undertake green investments in energy efficiency, renewable energy and climate resilience measures.
Addressing climate change remains a significant goal for Georgia, as well as a major strategic priority for the EBRD in all of the economies where it operates. The private sector plays a pivotal role in expanding the deployment of green initiatives. Partnering with TBC Bank will expand the EBRD’s outreach to small and medium-sized enterprises (SMEs) in its regions.
Listed on the London Stock Exchange, TBC is a leading universal financial group in Georgia, offering a wide range of traditional financial services and innovative digital solutions. It has a strong presence in all major business segments – retail banking, micro, small and medium-sized enterprise (MSME) finance and corporate banking.
The EBRD is a leading institutional investor in Georgia. To date, the Bank has invested almost €5.3 billion in 301 projects in the country’s financial, corporate, infrastructure and energy sectors, with 82 per cent of those investments in the private sector.
