REG - Bank of Georgia Grp - Ameriabank signs US$ 200m loan agreement with IFC

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14/01/2025 07:00

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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
(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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