NEWS

TBC Leasing has Acquired 10 Million US Dollars for Small and Medium Enterprises Founding

DECEMBER 2019

TBC Leasing has received funding from Netherlands Development Finance Company (FMO) in the amount of 10 Million US Dollars. Negotiations between the parties continued for one year. TBC Leasing will be using these resources to finance small and medium size enterprises.

The purpose of this collaboration is to increase access to leasing as an alternative financing option for small and medium enterprises. Additionally, 30% of the resources will be directed to energy efficiency and renewable energy project funding.

„Year 2019 in general was a very successful and fruitful year for the leasing sector and this can be observed in digits as well- sector has grown by 32%.

TBC Leasing is preserving its position of absolute leader on the market. Total annual investment in leases amounted to 81 million US Dollars and compared to the previous year growth has been 30%.

2020 took off with the similar success and we have obtained important investment from FMO and marked another successful cooperation with European development bank. FMO has supported our dedication to increase leasing awareness on Georgian market and FMOs contribution will be of pivotal importance for achieving this goal. It should also be mentioned, that during the past three years, TBC Leasing has received up to 100 million US Dollar investments from international financial institutions. We will continue our active cooperation with international donors, what will dramatically improve the business environment in our country”- stated general director of TBC Leasing, Mr. Gaga Gogua.

Jan-Willem quote:
Netherlands Development Finance Company (FMO) is the largest development bank of Holland, stakeholders of which are the state of Netherlands and other Dutch commercial banks. This organization has been operating from 1970 and supports entrepreneurs development worldwide. Currently, capacity of the company profile is up to 10 billion euros and more than 500 persons are employed by the organization. TBC Leasing is the member of TBC Bank group and was established in 2003. TBC Leasing is the leading leasing company on Georgian market and its market share amounts in 70%. Total capital of the company amounts in more than 300 million Georgian Lari. TBC Leasing finances spheres such as: construction, manufacturing, agriculture, production, renewable energy, information technologies, HoReCa and others. Company’s activity is spread across the country, where it is represented by 5 branches and 120 employees.