The facility will be used to finance the development of the portfolio of TBC Leasing, mostly destined to the SME business sector, which will be an important contribution to the emerging Georgian economy. This loan should enable the creation or maintenance of approximately 3 500 direct or indirect jobs.
According to Jean-Gabriel Dayre, Regional Director of Proparco for Turkey, Middle East, Caucasus, Balkans and Central Asia : “Proparco’s mandate is to support the private sector in developing countries and emerging economies. TBC Leasing’s expertise, network and extensive knowledge of the financing needs of Georgian SMEs make it an ideal partner to increase our impact in the country”.
Commenting on this transaction, Gaga Gogua, TBC Leasing’s CEO, said: “With this transaction TBC leasing starts a new chapter in cooperation with Development Finance Institutions, since Proparco is a remarkable partner, with whom we aim to reach targeted growth with flexible financing terms for Georgian small and medium enterprises.”