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Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
Georgia : € 40,000,000
Credit lines : € 40,000,000
Signature date(s)
30/04/2015 : € 40,000,000

Summary sheet

Release date
21 January 2015
Status
Reference
Signed | 30/04/2015
20140606
Project name
Promoter - financial intermediary
BANK OF GEORGIA LOAN FOR SMES AND MID-CAPS
JSC BANK OF GEORGIA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million
Not applicable.
Location
Sector(s)
Description
Objectives

The project consists of a dedicated EIB loan to finance projects promoted by small and medium-sized enterprises (SMEs) and Mid-Caps in Georgia through JSC Bank of Georgia.

The operation aims to support local private sector development, in particular SMEs and Mid-Caps.

Environmental aspects
Procurement

The EIB carries out thorough due diligence on the intermediary’s capacity and procedures to adhere to the Bank’s standards and rules in administering EIB finance, to ensure compliance of the intermediary’s allocations with the European Union’s social and environmental principles, and where appropriate, public consultation.

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank’s Guide to Procurement.
Since eligible final beneficiaries are restricted to 100% private sector entities, no procurement issues are expected at the outset.

Comments

This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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