Georgia took loan from Societe Generale to buy air defense system

Georgia has managed to secure a loan of €82.82 million from the French Societe Generale and €77.63 million will be used to pay for the air defense system the country is acquiring from Thales.

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The loan was stretched to five years and was backed by France’s export credit agency Coface. Georgia will pay a floating interest rate of between 1.27-2.1 percent.

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