Micro, Small and Medium Sized Enterprise Loan (“MSME”) loan of up to USD 20 million, comprised of MSE and SME tranches of USD 10 million each. The MSME loan will assist Bank Republic to further develop and expand its lending activities to private sector Georgian entrepreneurs, particularly outside of the capital.
By supporting one of the leading local banks, EBRD will add to the overall lending capability of the banking sector in Georgia. The MSME loan will increase supply of medium-term funding and will allow an increasing number of MSMEs to have access to bank financing. Financial intermediation will also be increased in smaller cities and towns as the majority of Bank Republic’s expansion is expected to be outside of Tbilisi.
Bank Republic is a subsidiary of Societe Generale, one of the leading financial services companies in Europe. It is a universal commercial bank, ranking fourth in Georgia by total assets (USD 316 million as of 31 December 2007).
MSME loan of USD 20 million, of which USD 10 million will be for MSE and USD 10 million for SME.
USD 65 million.
Screened FI. Bank Republic has recently developed and adopted its own Risk Management Procedure, which also covers management of environmental risks. After the inclusion in EBRD’s partner banks list the bank undertook implementation of EBRD’s Environmental Procedures, including compliance with the FI Environmental Exclusion and Referral Lists. In January 2006 and February 2008 Bank Republic staff participated in the Environmental and Social Risk Management training programme organised by the Bank’s Environment and Sustainability Department. Bank Republic complies with all national health, safety and environmental standards as well as with national employment laws and standards. Bank Republic will also comply with relevant Environmental Procedures within respective EBRD transactions and submit an Annual Environmental Report to EBRD.
The Energy Efficiency credit line will be complemented by grant funding to engage consultants in order to prepare energy audits, review investment proposals, support companies in securing funding from BR and provide implementation support. The budget for the framework assignment is USD 2,398,000 funded by ETC, UK- DFID SEI Fund and CIDE-EBRD 2006/09 Fund.
Giorgi Kerkadze, IFI Relationship Manager
2 Gr. Abashidze St,
0179 Tbilisi, Georgia
Telephone: +995 32 925555
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