The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) are providing a US$ 25 million (€ 23.04 million) financial package to TBC Bank to support climate change mitigation and adaptation projects in Georgia. This initiative, part of the Green Economy Financing Facility (GEFF) regional framework, aims to help Georgian individuals and businesses invest in green technologies and services.
The EBRD will contribute 75% of the loan, with the GCF covering the remaining 25%. At least 10% of the funds will be allocated to women-led or women-owned businesses. Austria and the GCF will also support project preparation, implementation, and monitoring, alongside raising awareness of gender-responsive green finance.
The agreement was signed at the EBRD’s 2024 Annual Meeting in Yerevan. Francis Malige, the EBRD’s Managing Director for Financial Institutions, emphasised the importance of green lending for Georgia’s sustainable future. Giorgi Megrelishvili, TBC Bank’s Deputy General Director, noted the facility’s role in fostering an inclusive and resilient economy.
TBC Bank, a major financial institution in Georgia, is known for its strong retail and corporate banking services. The bank is part of the UK-incorporated TBC Bank Group, which is listed on the London Stock Exchange.
The GEFF programme, supported by € 6.3 billion from the EBRD, involves 191 local banks across 29 countries and has helped over 231,000 clients avoid more than 10 million tonnes of CO2 emissions annually. The EBRD has invested nearly € 5.3 billion in 296 projects across various sectors in Georgia, primarily in the private sector.
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