Release date: 21 January 2015
Promoter – Financial Intermediary
JSC BANK OF GEORGIALocation
Description
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.
Objectives
The operation aims to support local private sector development, in particular SMEs and Mid-Caps.
Comments
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
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.
Procurement
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.
Status
Signed - 30/04/2015
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).