Bank Republic Mortgage Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

05 Sep 2006



PSD disclosed:

21 Jun 2006

Project Description

The proposed project consists of an unsecured mortgage loan to Bank Republic of up to USD 8 million for a maturity of up to 6 years.

The EBRD funds will be used to provide long-term financing to individuals for purchasing, constructing, renovating and/or re-mortgaging their real estate in Georgia.

The Mortgage Loan and the associated TC will support Bank Republic in the expansion of its mortgage lending and improving its mortgage operations, including training of staff.


Transition Impact

The project will have a significant transition impact in the following areas:


The Mortgage Loan provided by the 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 increased competition in the market and an increasing number of people to access bank financing for purchasing, renovating and/or constructing residential property.


The project will support Bank Republic in implementing best international practice in its mortgage operations and develop standardised mortgage products, ready for future securitisation.


The Client

Bank Republic headquartered in Tbilisi is a privately owned universal commercial bank, the sixth largest in Georgia in terms of total assets (USD 118 million as of 31 December 2005)

EBRD Finance

Up to USD 8 million unsecured mortgage credit line in two tranches of USD 4 million each, with individual tranche maturities of up to 6 years.

Project Cost

USD 8 million.

Environmental Impact

Bank Republic 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.

Technical Cooperation

Bank Republic will be one of the beneficiaries of a TC funded by the ETC Multi-donor fund to improve Georgian Banks’ mortgage operations, including staff training.

Company Contact

Lado Sakvarelidze, Deputy General Director

Bank Republic
2 Gr. Abashidze St,
0179 Tbilisi, Georgia

Telephone: +995 32 925555


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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