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The Bank of Georgia is the Recipient of the EBRD Trade Finance Award for the Most Outstanding Transaction of 2012

Published: July 1, 2013 | 1:26 pm
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The Bank of Georgia, the leading bank in Georgia, is delighted to announce that it has received an award from the European Bank for Reconstruction and Development (EBRD) for the most outstanding transaction in 2012 – the import of the equipment for the renovation of the Tbilisi Funicular.

The Tbilisi Funicular began operating in 1905, at the time being one of the world’s steepest and largest cable railways. It was closed in 2000. In order to have the Tbilisi Funicular reactivated, the Bank of Georgia, with EBRD’s assistance, issued two guarantees for the import and installation of the necessary equipment from Austria and Switzerland.

The Bank of Georgia is the undisputed leader of the market in the trade finance sector, largely through its close collaboration with the world’s largest financial institutions, such as the EBRD, the TFP, the IFC, the GTFP, and the ADB (from the TFP Program perspective). Our collaboration with the aforementioned institutions allows our clients access to unique individual products for financing trade.

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