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)
- Credit lines - Credit lines
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).