Ameriabank signs EUR 105m loan agreement with EIB
London, 3 February 2025
Ameriabank signs EUR 105 million loan agreement with EIB
Bank of Georgia Group PLC (the "Group") announces that its banking subsidiary in Armenia, Ameriabank CJSC (the "Bank"), has signed a EUR 105 million loan agreement with the European Investment Bank (EIB Global).
This transaction seeks to enable local micro, small, and medium-sized enterprises (MSMEs) and mid-cap companies to invest in growth, improve competitiveness, and implement greener and sustainable business practices. At least 20% of the loan will be directed toward green investments, and part of the financing will be made available in local currency to protect the MSMEs against currency risks.
Hovhannes Toroyan, Ameriabank's CFO, commented: "We are pleased to partner with the European Investment Bank to reaffirm our commitment to supporting micro, small, and medium-sized enterprises (MSMEs) in Armenia. This collaboration will provide local businesses with affordable funding, enabling them to reach their full potential and contribute significantly to Armenia's economic growth. As the largest lender in the Armenian economy, with a solid portfolio in green and sustainable financing, we are confident in our ability to foster a more sustainable and inclusive economic future for Armenia."
Teresa Czerwińska, EIB vice-president overseeing EIB operations in Armenia, commented: "This operation is a milestone, constituting a significant step forward in our commitment to fostering sustainable development and economic resilience, in line with both the European Union and Armenia's priorities."
Ambassador Vassilis Maragos, Head of the EU Delegation to Armenia, commented: "With this support to the Armenian MSMEs, we are delivering on our commitment to further support Armenian private sector and contribute to addressing the pressing need for access to finance including in local currency. This assistance is part of the European Investment Plan (EIP) for Armenia which is a comprehensive initiative aimed at fostering economic growth, sustainable development, and prosperity in the country."
Archil Gachechiladze, Bank of Georgia Group PLC's CEO, commented: "This transaction marks another step in promoting Armenia's dynamic, high-growth economy. 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."
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 |
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Adviser to the CEO |
Head of Investor Relations |
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+44 203 178 4034 |
+44 203 178 4034 |
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ir@bgeo.com |
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