BOG Receives USD 200 mln from EBRD, IFC

Bank of Georgia (BOG) has received USD 200 million from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) to help the country’s largest bank “to manage the effects of the global financial crisis,” IFC and EBRD said on December 30.

The two international financial institutions will provide USD 100 million each to support the bank’s capital base and to provide longer-term liquidity that will allow the bank to continue lending to retail clients and small and medium enterprises.

A day earlier, BOG said that it had received a USD 39 million financing package from the U.S. Overseas Private Investment Corporation (OPIC).

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