Reference: 20190019
Release date: 1 October 2019

Promoter – Financial Intermediary

JSC BANK OF GEORGIA

Location

Description

The project consists of a loan dedicated to finance eligible local SMEs and Mid-Caps through Bank of Georgia.

Objectives

The project will enhance access to finance to the target beneficiaries and support local private sector development.

Sector(s)

Under ELM Guarantee

This operation is covered by the ELM Political Risk Guarantee.

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

not applicable

Environmental aspects

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.

Procurement

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.

Status

Signed - 17/12/2019

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Georgia Credit lines