Georgian Financial Sector FW - TBC Bank Mortgage Line II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 38603

Status Complete

Location

Georgia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 38603

Status Complete

Location

Georgia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

11 Dec 2007

Disclosure date

08 Nov 2007

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

USD 12 million unsecured mortgage credit facility in two tranches of USD 6 million each. EBRD funds will be used to provide longer-term financing to individuals for purchasing, renovating, repairing, constructing and/or re-mortgaging their residential property in Georgia.

Transition Impact

The transition impact would be mainly achieved by providing a residential mortgage credit line to a commercial bank in Georgia, where mortgage loans represent a small share of GDP compared to CEE countries (approximately 3% of GDP, as of June 2007). Further growth of mortgage lending is dependent on the availability of long-term funding. The proposed loan would increase the supply of such funding available to the banking sector and allow an increasing number of people to access bank financing for purchasing, renovating and/or constructing residential property.

The operation will also promote best practice standards as the bank applies EBRD’s recommended set of Minimum Standards for Mortgage Lending.

The Client

TBC bank, a leading commercial bank in Georgia.

EBRD Finance

USD 12 million.

Project Cost

USD 12 million.

Environmental Impact

TBC Bank is required to comply with EBRD’s Environmental Procedures, including ensuring compliance with the applicable national environmental, health, safety and labour standards and submission of annual environmental reports to the Bank.

Technical Cooperation

None.

Company Contact

Mr Zezva Tsiskarishvili
Deputy General Manager
Tel: +995 32 777 000
Fax: +995 32 222 04 06
E-mail: zezva@tbcbank.com.ge

Transition impact

ETI Score:60

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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