BANK OF GEORGIA LOAN FOR SMES AND MID-CAPS

Promoter – Financial Intermediary

JSC BANK OF GEORGIA

Location

• Georgia

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)

• Credit lines

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