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
None.
Company Contact
Mr Zezva Tsiskarishvili
Deputy General Manager
Tel: +995 32 777 000
Fax: +995 32 222 04 06
E-mail: zezva@tbcbank.com.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
