Georgian Financial Sector F/W - Basis Bank

Location:

Georgia

Project number:

37168

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

24 Jul 2007

Status:

Complete

PSD disclosed:

08 May 2007

Project Description

The proposed project is aimed to enable Basis Bank to increase its medium-term lending to small and medium sized enterprise sector.

Transition Impact

Further promotion of the SME development in the country. By supporting Basis Bank and increasing the term funding available to the SME sector, the EBRD contributes to private sector development in Georgia. This leads to increased competition and entrepreneurship promotion.

Assistance in further development of one of Georgia’s medium-sized banks. It is important for the EBRD to support a bank, which has been enjoying a healthy reputation in this early transition market and promote further competition in the banking sector.

 

The Client

Joint stock company Basis Bank, founded in 1993, is the 9th largest private commercial bank in Georgia in terms of total assets (USD 47.7 million) and capital (USD 9.9 million) focusing on SME financing.

EBRD Finance

EBRD financing will consist of a MSME line for USD 6 million.

Project Cost

USD 6 million.

Environmental Impact

Screened FI. Basis Bank shall comply with Georgian national environmental, health, safety and labour regulations and standards, and with the Core Labour Conventions of the International Labour Organisation related to child and forced labour and discrimination at work. Basis Bank shall also incorporate into its credit appraisal process and implement EBRD Environmental Procedures for Financial Intermediaries, nominate a senior member of management responsible for implementation of the Environmental Procedures and, provide for the environmental and social risk management training for its staff. Basis bank shall also submit Annual Environmental Report to the EBRD in a format and contents satisfactory to the Bank.

Technical Cooperation

None.

Company Contact

Zurab Tsikhistavi, General Director

41, Chavchavadze ave, Tbilisi 0179 Georgia

Tel : (99532) 921921/ 922922
Fax: (99532) 915017

Email: info@basisbank.ge

Website: www.basisbank.ge

 

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

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