LONDON (ShareCast) - (Sharecast News) - Bank of Georgia Group reported on Thursday that JSC Bank of Georgia's one-year $75m club trade finance facility was recognised as the 'Trade Deal of the Year' by the Asian Development Bank's Trade Finance Program.
The FTSE 250 company said the facility was arranged in 2017 by Citi in collaboration with the bank's long-term partner international financial institutions - Asian Development Bank and the International Finance Corporation.

It said the facility was the fourth successful syndication arranged by Citi for JSC Bank of Georgia, and the largest ever trade club deal arranged by commercial and development banks for trade finance purposes among Central Asia Regional Economic Cooperation member countries.

"We were very pleased to be a participant in the important collaboration between commercial and multilateral banks that work hand in hand to create advantageous trade finance products for corporate and SME companies in Georgia, and to spread and deepen partnerships between local and international players across the supply chain," said Bank of Georgia chief executive officer Kaha Kiknavelidze.

"The facility helped us enhance cross-border trade and finance up to 100 trade deals, including important transactions in the manufacturing and energy sectors.

"I would like to thank ADB for supporting the local trade finance market through this TFP and I hope we will work together on many more successful deals in the future."

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