Bank of Georgia signs $45 million Trade Finance Facility with Citi and Asian Development Bank

Bank of Georgia has signed a one-year $45 million Trade Finance Facility arranged by Citi with the Asian Development Bank’s (ADB) Trade and Supply Chain Finance Programme (TSCFP). The Facility has been arranged under the Continuing Agreement for Reimbursement of Trade Advances (CARTA), signed with Citi in 2011. The Facility aims to enhance the Bank’s best-in-class offering of trade finance solutions for the Georgian Corporate and small and medium-sized (SME) sectors.

Archil Gachechiladze, CEO of Bank of Georgia, commented: ‘We are proud to strengthen our partnership with Citi and Asian Development Bank (ADB) through a $45 million trade finance facility as the needs of Georgian businesses continue to grow, particularly across the corporate and SME sectors. We remain committed to providing robust trade finance solutions that support their success. This agreement reflects the confidence our global partners place in our expertise, and we look forward to unlock new growth opportunities for businesses in Georgia and beyond’.

‘By delivering this trade finance facility to one of the leading financial institutions in Georgia, Citi has underlined its commitment to support growth in key developing markets’, said Emre Umut, ​Head of FI Sales, MEA at Citi. ‘We are proud of our long-standing relationship with Bank of Georgia.

‘This transaction highlights the value of strong collaboration between local and global financial institutions’, said Steven Beck, Head of the Trade and Supply Chain Finance Programme at ADB. ‘By bringing together Bank of Georgia’s deep market presence and Citi’s global expertise, ADB’s Trade and Supply Chain Finance Program collaboration demonstrates how risk-sharing and private sector cofinancing can work together to support SMEs, strengthen supply chains, and promote sustainable economic growth’.

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Paid for by: Bank Of Georgia