19 April 2011
Mgaloblishvili Kipiani Dzidziguri (MKD) has recently acted as Georgian counsel to Asian Development Bank on US Dollar denominated senior loan of up to $ 50 million to JSC Bank of Georgia, the proceeds of which will be on-lent to small and medium-sized enterprises in Georgia.
Besides the fore transaction, MKD has also advised Black Sea Trade and Development Bank on increasing Revolving Trade Finance Facility in the amount of $3 million to JSC Cartu Bank. The purpose of the Facility was to assist the Borrower in extending short-term pre-shipment and/or post-shipment export and/or import financing to those of its customers in Georgia who import goods from and/or export goods to certain jurisdictions.
The transaction was led by Victor Kipiani, partner, assisted by Giorgi Kankava, senior lawyer and team of junior lawyers.
“These transactions clearly signal that financing by IFIs to Georgian banking sector is gaining a new impetus which, ultimately, leads to increase of capabilities of local companies both for production and trade purposed. Having the said, we are very happy to contribute to this meaningful process with our services to the best we can”, said Victor Kipiani.