TBC Bank and the Global Climate Partnership Fund have agreed on a
USD 25 million loan facility destined to finance small-scale hydropower projects in Georgia.
TBC Bank PLC, the leading universal banking group in Georgia, has been actively providing financing for climate-related projects for years and plans to further develop its portfolio in the field. A first USD 10 million tranche of funds was disbursed at the end of December 2016.
‘TBC Bank is actively financing renewable energy projects in Georgia and holds one of the largest portfolios in this sector’, commented Vakhtang Butskhrikidze, CEO of TBC Bank. ‘The new funds raised will help us to further strengthen our position in this sector. We are especially pleased to start a partnership with a fund that has particular emphasize on the energy sector.’
Claudia Arce, Chairperson of the board at the Global Climate Partnership Fund, added: ‘We are delighted to welcome TBC Bank to our growing portfolio of green lending partners. Given the number of existing small-scale hydropower projects in the country it is essential that financing be made available to bring them to completion. TBC Bank has an important role to play in this field.’
About TBC Bank
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking deposits (35.5% with Bank Republic) as at 30 September 2016, according to the data published by the NBG.
TBC Bank PLC
Debt Capital Markets
Global Climate Partnership Fund S.A., SICAV-SIF
14, Boulevard Royal