BGEO recognised for work with women-owned businesses

BGEO Group was celebrating on Tuesday, after its banking business subsidiary JSC Bank of Georgia was recognised as the ‘Best Issuing Bank Partner for Women-Owned Businesses in Europe and Central Asia’ for 2017, by International Finance Corporation's Global Trade Finance Programme (GTFP), in cooperation with the Banking on Women Programme.

The FTSE 250 firm said that since 2008, the bank had been actively using GTFP's resources to extend its capacity to deliver trade finance solutions to its small-to-medium enterprise and corporate clients, including women-owned enterprises.

“We are very pleased to be distinguished by IFC, our long term partner, as the best financial institution in Europe and Central Asia for providing much necessary funding for women-led businesses,” said Bank of Georgia CEO Kaha Kiknavelidze.

“The bank is fully dedicated to designing financial solutions for start-ups and businesses, especially small and medium sized companies, managed by women and supporting their funding with essential non-financial assistance.

“We plan to further strengthen our client base within women-owned enterprises and stay at the forefront of enhancing their role in Georgian economy.”

Jan van Bilsen, IFC regional manager for the South Caucasus, said Bank of Georgia was one of their “key” partners in Europe and Central Asia, and had played a “critical role” in expanding trade into new markets and helping local SMEs grow and create jobs.

“We would like to congratulate the team with this well-deserved award.”