$ 50 million loan agreement signed between TBC Bank and China Development Bank

The FINANCIAL — Georgian lender TBC Bank Group said it had been provided with a $50m loan by China Development Bank.

The funds were for general corporate purposes and would help TBC Bank to expand its financing operations for Georgian clients, primarily in the SME and micro segments, including those who directly benefit from the increasing trade with China, the company said.

It was the largest facility the Chines group had ever provided to any Georgian entity, the company said.