BSTDB expands its leasing support in Georgia
Press Release | 21-Dec-2010
The Black Sea Trade and Development Bank made available a new USD 3 million SME leasing facility to TBC Leasing from Georgia. Proceeds of BSTDB’s loan will be used to expand the company’s leasing operations with small and medium sized companies and entrepreneurs in Georgia. This is the second BSTDB loan provided to TBC Leasing after the successful utilization and repayment of the first USD 3 million SME leasing facility.
The new facility represents an efficient mechanism to extend medium term funding to numerous small and medium-sized enterprises in Georgia.
Support to the leasing sector development in the Black Sea region is a priority area of the BSTDB activity and is already successfully implemented in Georgia, Romania and Russia.
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JSC TBC Leasing was established in 2003 by a leading Georgian JSC TBC Bank, owning 90% of the company capital. The other 10% is owned by European Bank for Reconstruction and Development (EBRD). TBC Leasing targets small and medium size private companies, which expand their activities and increase their profitability by acquiring fixed assets by leasing. The TBC Leasing became a market leader reaching its maximum portfolio size of USD 22 million and showing positive financial results nevertheless of political and economic crisis.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (approx. USD 4,5 billion). BSTDB is rated A3 by Moody’s.
Press Contact
Haroula Christodoulou
Tel: +30 2310 290533
Email: cchristodoulou@bstdb.org