Project description
and objectives:
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The proposed project consists in up to USD 15 million unsecured mortgage loan
to TBC Bank.
The EBRD long-term funds will be used to provide long-term financing to
individuals for purchasing, constructing, renovating, repairing and/or
re-mortgaging their real estate in Georgia.
The Mortgage Loan and the associated TC will support a proven partner bank in
Georgia in the expansion of its mortgage lending and improving its mortgage
operations, including training of staff.
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Transition impact:
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The project will have a significant transition impact in the following areas:
The first Mortgage Loan provided by EBRD to a Georgian commercial bank would
support the development of the mortgage sector in Georgia, which is in the
early stage of development.
The Mortgage Loan will increase long-term funds available to a local bank,
allowing an increasing number of people to access bank financing for
purchasing, renovating and/or constructing residential property.
The project will support TBC Bank in implementing best international practice
in its mortgage operations and develop standardised mortgage products, ready
for future securitisation.
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The client:
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TBC Bank headquartered in Tbilisi is a leading commercial bank and the largest
lender to small and medium size enterprises in Georgia.
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EBRD finance:
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Up to USD 15 million unsecured mortgage credit line in two tranches of USD 7.5
million each, with individual tranche maturities of up to 6 years.
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Total project cost:
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USD 15 million.
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Environmental impact:
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TBC Bank will be required to comply with EBRD’s Environmental Procedures for
Residential Mortgage Lending, including ensuring compliance with the
applicable national environmental, health, safety and labour standards and
submission of annual environmental reports to the Bank.
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Technical
cooperation:
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A TC funded by the ETC Multi-donor fund to improve Georgian Banks’ mortgage
operations including staff training will be provided.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr Zezva Tsiskarishvili, Deputy General Manager
Fax: +44 20 7338 7380
Fax: +995 32 222 04 06
Tel: +995 32
777 000
E-mail: zezva@tbcbank.com.ge
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EBRD contact:
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Madina Sakbaeva, Operation Leader: sakbaevm@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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