Project description
and objectives:
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The proposed new SME and Micro credit line would enable Bank of Georgia to increase its medium-term lending to the micro, small and medium sized enterprise secto
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Transition impact:
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The proposed transaction will contribute to transition by:
- Further promotion of the SME and micro enterprise development in the country. By supporting Bank of Georgia and increasing the term funding available to the SME sector, which has a high growth rate, the EBRD contributes to private sector development in Georgia. This leads to increased competition and entrepreneurship promotion.
- Assistance in further development of one of Georgia’s leading banks. It is important for the EBRD to support a systemic bank, which has been enjoying very good reputation in an early transition market.
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The client:
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Bank of Georgia is one of Georgia’s leading banks with the largest equity base of US$ 22 million. Bank of Georgia is a universal bank providing a variety of banking products and services to its customers, including financing of SMEs and micro-enterprises. The bank has the largest network of branches in Georgia (currently 52).
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EBRD finance:
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EBRD financing will consist of a US$ 4 million loan for six years including a grace period of two years.
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Total project cost:
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US$ 4 million senior loan.
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Environmental impact:
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Bank of Georgia will be required to continue to comply with the EBRD’s Environmental Procedures for Small and Micro Loans, including adherence to EBRD’s Environmental Exclusion List, compliance with applicable Georgian environmental, health and safety legislation and submission of Annual Environmental Reports to the EBRD.
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Technical
cooperation:
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A TC project has been designed to provide advice to senior management of Bank of Georgia on commercial aspects of its development, as well as strategic orientation and corporate governance practices.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Vladimir Robakidze Deputy General Director
Bank of Georgia
3 Pushkin Street, Tbilisi Georgia
Tel: +995 32 92 16 63
Website: www.bankofgeorgia.com.ge
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EBRD contact:
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Murtaz Kikoria, Operation Leader: kikoriam@tbl.ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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