TBC Bank Mortgage Loan

Location:

Georgia

Project number:

36907

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

27 Jun 2006

Status:

Completed

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

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.