Bank of Georgia Group PLC (LON:BGEO) today announced that JSC Bank of Georgia has signed a one-year US$50 million Trade Finance Facility with Citi. The Facility has been arranged under the Continuing Agreement for Reimbursement of Trade Advances, signed with Citi in 2011, and is the third successful transaction between Citi and Bank of Georgia under this agreement. The Facility aims to enhance the Bank’s best-in-class offering of trade finance solutions for the Georgian corporate and small and medium sized sectors.
Archil Gachechiladze, Bank of Georgia CEO commented: “I am very glad to see that Bank of Georgia and our trusted partner Citi continue to actively cooperate on trade finance deals, which enable us to strengthen our position as a go-to bank for tailor-made trade finance products in Georgia. Facilities of this kind are important for our corporate, as well as SME clients that are actively engaged in export-import transactions and we aim to remain a reliable financial support for them.”