Project description
and objectives:
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The proposed project is aimed to enable Basis Bank to increase its medium-term lending to small and medium sized enterprise sector.
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Transition impact:
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Further promotion of the SME development in the country. By supporting Basis Bank and increasing the term funding available to the SME sector, 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 medium-sized banks. It is important for the EBRD to support a bank, which has been enjoying a healthy reputation in this early transition market and promote further competition in the banking sector.
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The client:
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Joint stock company Basis Bank, founded in 1993, is the 9th largest private commercial bank in Georgia in terms of total assets (USD 47.7 million) and capital (USD 9.9 million) focusing on SME financing.
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EBRD finance:
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EBRD financing will consist of a MSME line for USD 6 million.
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Total project cost:
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USD 6 million.
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Environmental impact:
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Screened FI. Basis Bank shall comply with Georgian national environmental, health, safety and labour regulations and standards, and with the Core Labour Conventions of the International Labour Organisation related to child and forced labour and discrimination at work. Basis Bank shall also incorporate into its credit appraisal process and implement EBRD Environmental Procedures for Financial Intermediaries, nominate a senior member of management responsible for implementation of the Environmental Procedures and, provide for the environmental and social risk management training for its staff. Basis bank shall also submit Annual Environmental Report to the EBRD in a format and contents satisfactory to the Bank.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Zurab Tsikhistavi, General Director
41, Chavchavadze ave, Tbilisi 0179 Georgia
Tel : (99532) 921921/ 922922
Fax: (99532) 915017
Email: info@basisbank.ge
Website: www.basisbank.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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