Release date: 10 March 2010
Promoter – Financial Intermediary
Closed Joint Stock Company Bank Republic, headquartered in Tbilisi (Georgia). The majority shareholder of the BANK REPUBLIC is the Société Générale SA with a controlling 80% share.
Open Joint Stock Commercial Bank, Banca Comerciala “Mobiasbanca – Groupe Societe Generale” SA., headquartered in Chisinau (Republic of Moldova). The majority shareholder of the MOBIASBANCA is the Société Générale SA with a controlling 68% share, which, together with its subsidiary, BRD – Groupe Société Générale (Romania), holds a controlling 88% share.
Location
Description
A dedicated loan for SMEs, including a tranche for small and medium scale energy / environment projects promoted by mid-caps and public entities, through Société Générale Group's subsidiaries in Georgia and Moldova.
This would be the first EIB Loans for SMEs in Georgia and in Moldova, under the SME facility in the Eastern Partnership countries. The proposed operation will form part of the Joint IFI Action Plan in support of banking systems and lending to the real economy in Central and Eastern Europe, approved jointly by the EIB, EBRD and World Bank group in Paris in February 2009.
Objectives
Provide access to long-term funds at affordable interest rates for SMEs as well as for small and medium scale energy / environment projects promoted by mid-caps and public entities.
Sector(s)
Proposed EIB finance (Approximate amount)
The total loan amount of up to EUR 55 million. will be split between the two subsidiaries of the Société Générale Group, Bank Republic in Georgia (up to EUR 35 million.) and Mobiasbanca in Moldova (up to EUR 20 million.).
Total cost (Approximate amount)
Not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 24/11/2010
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).