Bank of Georgia Group PLC Ameriabank signs US$ 200m loan agreement with IFC

RNS Number : 1274T

Bank of Georgia Group PLC

14 January 2025

 

 

London, 14 January 2025

 

 

Ameriabank signs US$ 200 million loan agreement with IFC

 

Bank of Georgia Group PLC (the "Group") announces that its banking subsidiary in Armenia, Ameriabank CJSC (the "Bank"), has signed a US$ 200 million loan agreement with International Finance Corporation (IFC), a member of the World Bank Group.

Half of this loan will be allocated to climate finance projects, a quarter to MSMEs, and another quarter to women-led MSMEs.

Artak Hanesyan, Ameriabank's CEO, commented: "This long-term loan agreement stands out as the largest of its kind ever signed between IFC and a financial institution in Armenia. Beyond its scale, the agreement is significant for its purpose: supporting business initiatives and services that address climate change challenges, empowering women entrepreneurs, and contributing to a sustainable future for Armenia. We deeply appreciate IFC's decade-long partnership and our shared commitment to creating opportunities for businesses and people in Armenia."

Marcelo Castellanos, IFC's Senior Regional Manager for the Financial Institutions Group in Europe, commented: "This partnership is part of IFC's strategy to boost private investment in sustainable development. Ameriabank, a leader in climate financing, is a strategic partner in advancing these goals. By providing long-term funding, we aim to demonstrate the viability of climate finance products and inspire replication and scale across Armenia's financial sector."

Archil Gachechiladze, Bank of Georgia Group PLC's CEO, commented: "This transaction is another step towards facilitating sustainable development and supporting the high-growth Armenian economy. Ameriabank is a leading franchise in the country and it will continue to empower businesses and drive positive impact for local communities. I would like to thank the IFC and Ameriabank teams for their successful collaboration."

 

 

Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations

 

About Bank of Georgia Group PLC

Bank of Georgia Group PLC (LSE: BGEO LN) is a FTSE 250 holding company whose subsidiaries provide banking and financial services focused in the high-growth Georgian and Armenian markets through leading, customer-centric, universal banks - Bank of Georgia in Georgia and Ameriabank in Armenia. By building on our competitive strengths, we are committed to driving business growth, sustaining high profitability, and generating strong returns, while creating opportunities for our stakeholders and making a positive contribution in the communities where we operate.

 

Legal Entity Identifier: 213800XKDG12NQG8VC53

 

 

For further information, please visit www.bankofgeorgiagroup.com or contact:

 

Michael Oliver	Nini Arshakuni
Adviser to the CEO	Head of Investor Relations
[phone]	[phone]
[e-mail]	[e-mail]

 

 

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