TBC Bank Mortgage Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

27 Jun 2006



PSD disclosed:

12 May 2006

Project Description

The proposed project consists in up to USD 15 million unsecured mortgage loan to TBC Bank.

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

The Mortgage Loan and the associated TC will support a proven partner bank in Georgia 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 first Mortgage Loan provided by 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 an increasing number of people to access bank financing for purchasing, renovating and/or constructing residential property.


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


The Client

TBC Bank headquartered in Tbilisi is a leading commercial bank and the largest lender to small and medium size enterprises in Georgia.

EBRD Finance

Up to USD 15 million unsecured mortgage credit line in two tranches of USD 7.5 million each, with individual tranche maturities of up to 6 years.

Project Cost

USD 15 million.

Environmental Impact

TBC Bank 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

A TC funded by the ETC Multi-donor fund to improve Georgian Banks’ mortgage operations including staff training will be provided.

Company Contact

Mr Zezva Tsiskarishvili, Deputy General Manager

Fax: +44 20 7338 7380
Fax: +995 32 222 04 06
Tel: +995 32 777 000

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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 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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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