News
11 May 2020
$25m EBRD loan will fund Georgia Healthcare Group's working capital needs
In:
Social infrastructure
Region:
Europe
The European Bank for Reconstruction and Development has agreed a $25 million loan to Georgia Healthcare Group (GHG) to fund working capital and operational expenditure requirements for the group’s role in fighting COVID-19 in the country.
The funds will enable GHG to adapt six major hospitals for COVID-19 patients as well as enhance its diagnostic capacities, which are critical for tracking the virus, by testing in the country’s most advanced medical laboratory, Mega Lab, which was originally financed by the EBRD in 2019.
The EBRD investment is provided under its Resilience Framework that was set up to meet the immediate short-term liquidity and working-capital needs of existing clients affected by the impact of the coronavirus pandemic.
