- Bank of Georgia said its subsidiary, JSC Bank of Georgia, had signed a €50m loan agreement with the European Investment Bank with a maturity of up to seven years.

Under the agreement, up to 50% of the facility could be drawn in Georgian Lari, while the remaining amount would be denominated in euros or dollars.

'The purpose of the credit is to finance investment projects promoted by micro, small and medium sized and mid-capitalisation enterprises in Georgia and support the implementation of projects important for the local private sector development,' the company said.

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