Georgia’s TBC Bank has closed a seven-year €25mn loan with the European Investment Bank (EIB) to provide medium and long-term loans to its clients in the energy and environmental sectors.

The loan will also go towards funding TBC’s small and medium enterprise clients to support the bank’s SME loan portfolio growth.

“This facility will enable TBC Bank to further increase financing of its clients in SME and energy sectors and thus contribute to the development of these very important components of the Georgian economy,” says Vakhtang Butskhrikidze, TBC Bank’s CEO.