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Bank Of Georgia

Bank of Georgia Attracts 50 million USD Financial Resource

Bank of Georgia has attracted 50 million USD financial resource thanks to efforts of Citi jointly with International Finance Corporation (IFC). The latter participates in financial component and ensures partial guarantee support through its global trade finance program (GTFP).

This is the third financial component attracted by efforts of Citi through drawing several international investors in syndication process.

This year’s financial component will promote imports and exports operations for Bank of Georgia main corporate clients, increase volume of trade transactions and value in main fields of Georgian economy, including in agriculture, transport and power sectors.

“The new financial  component will further strengthen Bank of Georgia positions in trade financing segment and assist us  in satisfying the growing needs of our corporate clients base. We are glad to be able to work with our long partners again. I would like to use this opportunity and express gratitude to Citi and IFC for their continuous successful cooperation”, Bank of Georgia director general Kakha Kiknavelidze said.

“Citi has unique ability to unite many market players – clients, partner banks and multilateral agencies for developing new trade solutions for our clients. Based on this concept, we have provided ideal solution to Bank of Georgia for the purpose of attracting growing financial resources for financial trade activities, through the Club structure”, Anurag Chodhari, head of distribution, treasury and trade solutions of Citi company, said.