EBRD to allot $22m loan to Georgian firm for building car service centre
The European Bank for Reconstruction and Development (EBRD) will provide Georgian Tegeta Motors a loan of $22 million for a new project.
The agreement on the allocation of the EBRD credit to the company was signed at the company's office on May 27.
The document was signed by executive director of the EBRD Paul Henry and CEO of Tegeta Motors Giorgi Mshvildadze.
According to the company, the allocated funds will be provided to Tegeta Motors for refinancing already existing obligations and financing the new project.
"A unique service centre for cars with diesel engines will be built under the project. The centre will be equipped with ultra-modern equipment brands Bosh and Denso. It is expected the centre will service cars with diesel engines of any modification," the company said.
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