Bank of Georgia signs US$50mn trade finance loan with Citi

Bank of Georgia has signed a one-year US$50mn trade finance facility with Citi for small and medium-sized firms across the country. The loan has been arranged under the Continuing Agreement for Reimbursement of Trade Advances (Carta), signed with Citi in 2011, and marks the third successful transaction between Citi and the bank under the agreement. “I am very glad to see that Bank of Georgia and our trusted partner Citi continue to actively co-operate on trade finance deals, which enable us to strengthen our position as a go-to bank for tailormade trade finance products in Georgia,” says bank CEO Archil Gachechiladze. “Facilities of this kind are important for our corporate, as well as SME clients that are actively engaged in export-import transactions and we aim to remain a reliable financial support for them,” he adds.