TBC Bank signs $30 million loan guaranty with USAID, DFC

By Marisa Wong

Los Angeles, Oct. 13 – TBC Bank Group plc announced that subsidiary JSC TBC Bank signed a $30 million loan guaranty agreement with the U.S. Agency for International Development and the U.S. International Development Finance Corp.

The new loan guaranty will enable TBC to issue $30 million of loans to Georgian micro, small and medium enterprises (MSMEs) with a focus on women-led businesses, startups and development of Georgia’s regions, according to a press release.

“The signing of this guaranty agreement marks a significant milestone in our partnership with DFC and USAID. The risk sharing facility will allow TBC Bank to accelerate financing of Georgian MSMEs, with the special focus on rural entities and smallholders, women entrepreneurs and start-ups,” TBC chief executive officer Vakhtang Butskhrikidze said in the release.

“Improving access to finance will strengthen their competitiveness and support sustainable development of this segment, thus contributing to the further economic growth and job creation in Georgia.”

The bank is based in Tbilisi, Georgia.

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