REG - Bank of Georgia Grp - Ameriabank signs EUR 105m loan agreement with EIB

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03/02/2025 07:15

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RNS Number : 6259V  Bank of Georgia Group PLC  03 February 2025

 

 

 

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
(http://www.bankofgeorgiagroup.com) or contact:

 

 Michael Oliver                              Nini Arshakuni
 Adviser to the CEO                          Head of Investor Relations
 +44 203 178 4034                            +44 203 178 4034
 moliver@bgeo.com (mailto:moliver@bgeo.com)  ir@bgeo.com

 

 

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should not be construed as an offer to sell or the solicitation of an offer to
buy any securities

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