Georgian Financial Sector FW - TBC Bank Mortgage Line II



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

11 Dec 2007



PSD disclosed:

08 Nov 2007

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


Company Contact

Mr Zezva Tsiskarishvili
Deputy General Manager
Tel: +995 32 777 000
Fax: +995 32 222 04 06


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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