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Signature(s)

Amount
€ 120,000,000
Countries
Sector(s)
Georgia : € 120,000,000
Credit lines : € 120,000,000
Signature date(s)
22/12/2023 : € 15,000,000
20/12/2024 : € 21,000,000
22/12/2023 : € 35,000,000
20/12/2024 : € 49,000,000

Summary sheet

Release date
2 January 2024
Status
Reference
Signed | 22/12/2023
20220641
Project name
Promoter - financial intermediary
BANK OF GEORGIA LOAN FOR GROWTH & GREEN FINANCE
JSC BANK OF GEORGIA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 120 million
not applicable
Location
Sector(s)
Description
Objectives

The loan is dedicated to finance eligible small and medium sized enterprises (SMEs) and Mid-Caps in Georgia.

The aim is to enhance access to finance in local currency for the target beneficiaries. Part of available funds will be dedicated to green investments.

Environmental aspects
Procurement

Bank of Georgia will have to take all the required measures to ensure that the procedures carried out by the final beneficiaries for the sub-projects will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by the Government of Georgia or otherwise applicable and binding in the country.

Bank of Georgia will be required to take all the required measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects are in line with the EIB's Guide to Procurement and the applicable EU public procurement rules.

Milestone
Under appraisal
Approved
Signed
24 October 2023
22 December 2023

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).

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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