The project consists of a loan dedicated to finance eligible local SMEs and Mid-Caps through Bank of Georgia.
The project will enhance access to finance to the target beneficiaries and support local private sector development.
The EIB will require the intermediary institution to take all the requisite measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects receiving Bank of Georgia financing will comply with national legislation and the ElB's Environmental and Social Standards.
The intermediary institution will be required to take all the requisite measures to ensure that any procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances are in accordance with EIB Guide to Procurement and the relevant applicable EU public procurement rules.
This operation is covered by the ELM Political Risk Guarantee.
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