21 October, 2011
Mgaloblishvili Kipiani Dzidziguri (MKD) acted as a legal counsel to the European Bank for Reconstruction and Development in connection with TBC Bank funding to finance agricultural sector. The agreement signed provides for facility of EUR 10 million in local currency and up to five years.
This is the first EBRD funding of Georgian agriculture sector and other facilities will also follow shortly extending funds through a number of other Georgian banks.
The transaction is the very first of its nature which makes it possible for TBC Bank’s customers to avoid currency risks.
Mgaloblishvili Kipiani Dzidziguri (MKD) transaction team was led by Victor Kipiani, partner and Giorgi Kankava, senior lawyer, drafting transaction documents and advising on various aspects of application of the local regulatory framework.