Bank of Georgia : Subsidiary Signs $50 Million Trade Finance Facility With Citi

By Adria Calatayud

Bank of Georgia Group PLC said Friday that its subsidiary JSC Bank of Georgia has signed a trade-finance facility of $50 million with Citigroup Inc. to enhance its offering for the Georgian corporate and small- and medium-sized sectors.

The European lender said the one-year facility has been arranged under a continuing reimbursement agreement it signed with Citi in 2011. The facility represents the sixth transaction between Citi and Bank of Georgia under the agreement, the London-listed Georgian bank said.

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