RF - Georgia Healthcare Group

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

This project was approved as part of the Bank's response to the COVID-19 pandemic. To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.

A senior loan of up to USD 25 million in favour of JSC Georgia Healthcare Group. Proceeds to fund short-term working capital needs as well as critical capital expenditures required for the GHG's important role in fighting COVID-19 virus pandemic.

Project ID 51983

Status Complete

Location

Georgia

Business Sector

Manufacturing and Services

Notice Type

Private

Project timeline

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

Company Contact Information

Ketevan Kalandarishvili
kkalandarishvili@ghg.com.ge
+995322550505
+995322550505
www.ghg.com.ge
142 Beliashvili St. Tbilisi 0159, Georgia.

Project ID 51983

Status Complete

Location

Georgia

Business Sector

Manufacturing and Services

Notice Type

Private

Environmental Category

Approval Date

06 May 2020

Disclosure date

01 May 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

RF - Georgia Healthcare Group (Georgian) (PDF, 0.51MB)

Project description

Project objectives

The Project is a response to COVID-19 pandemic, where GHG plays an important role in helping the state by adapting six major hospitals for the patients infected with the virus in accordance with WHO guidelines. The Project also supports implementation of testing for COVID-19 in the most advanced medical laboratory in the country, Megalab, which was originally financed by the Bank.

Transition impact

ETI Score:72

TI for this project is aligned with the Bank's Covid-19 Solidarity Package, which adopts a streamlined rating approach. The Project is proposed to safeguard the previous transactions' transition impact objectives under the Inclusive and Resilient qualities: (i) work between the Company and the Ministry of Health and Ministry of Education to define and implement skills standards for nursing and midwifery professionals at the Bachelor's level, introducing new sub-specialisations at the national level in line with international best practices (Inclusive) and (ii) demonstration effect related to the successful issuance of public local currency bond which contributes to the development of local capital markets (Resilient).

Client information

GEORGIA HEALTHCARE GROUP JSC

JSC Georgia Healthcare Group ("GHG"), a joint stock company incorporated in Georgia, is the largest healthcare provider operating a highly-integrated business model which includes hospitals, clinics, pharmaceuticals, medical insurance and diagnostics laboratory.

EBRD Finance Summary

USD 25,000,000.00

Total project cost

USD 25,000,000.00

Additionality

EBRD financing is provided in the extraordinary circumstances of the COVID-19 crisis and effectively bridges a liquidity gap due to adverse market conditions.

Environmental & Social Summary

The ESDD showed the following. GHG has formal and publicly committed Environmental & Social Policy in place and reports on its environmental and social performance to the shareholders. In addition to environmental and social coordinators employed at GHG level, Environmental & Social Management System (ESMS) responsibilities are delegated to healthcare facility-based personnel, primarily consisting of operations teams and epidemiologists who provide day-to-day support to Environmental, Health and Safety function in areas of waste and wastewater management, housekeeping, personal safety matters, fire safety etc. As the Bank's client, the company has carried out third party environmental audits, life & fire safety audits and a hospital infection audit for their facilities. Their overall environmental and social performance is in line with EBRD PRs. The Group's HR policy including an employee grievance mechanism as well as Occupational Health & Safety (OHS) is in line with PR2 and PR4. GHG has written reorganisation & retrenchment procedure in line with IFC PS2 and EBRD PS2.

The ESAP includes in-hospital infection prevention & management, and Antibiotics Stewardship & Antimicrobial Resistance (AMR) Surveillance. The Bank will monitor the Project's compliance with PRs by reviewing an annual report and a monitoring visit.

Technical Cooperation and Grant Financing

None

Company Contact Information

Ketevan Kalandarishvili
kkalandarishvili@ghg.com.ge
+995322550505
+995322550505
www.ghg.com.ge
142 Beliashvili St. Tbilisi 0159, Georgia.

PSD last updated

01 May 2020

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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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RF - Georgia Healthcare Group

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)