AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 24 July 2014, the Turk Eximbank signed a Trade Finance Loan Agreement amounting to USD 20.000.000 with the Bank of Georgia. The core scope of this Agreement is to provide financing to Georgian companies that import Turkish consumer and capital goods in their alma mater country i.e. Georgia.
Therefore, enabling both Banks to provide Georgian buyers with grounds for diversifying the financing sources available to them - and therefore also benefit from the increasing trade flows between Turkey and Georgia.
Türk Eximbank is a state-owned bank. The Turk Eximbank represents the major export incentive instrument of the government of Turkey. Consequently, Türk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas.
Bank of Georgia is the largest commercial bank in Georgia by asset size.
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