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        BANK OF GEORGIA LOAN FOR GROWTH & GREEN FINANCE

        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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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