Micro, Small and Medium-Sized Enterprise (“MSME”) loan of up to USD 7 million equivalent. The MSME loan will assist VTB Georgia to further develop and expand its lending activities to private sector Georgian entrepreneurs and farmers, 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 and farmers, including in the areas outside of Tbilisi, to have access to bank financing.
VTB Bank (Georgia) is a subsidiary of VTB Bank OJSC, an investment grade Sponsor and the second largest bank in Russia. VTB Georgia is a universal commercial bank, ranking sixth in Georgia by total assets (USD 228 million as of 30 June 2009).
MSME Loan of up to USD 7 million equivalent
USD 15.6 million equivalent
Screened FI. VTB Bank is an existing client of the EBRD. VTB bank had received previous environmental training and assistance in 1999. VTB has appointed an Environmental Coordinator; currently responsibility for environmental and social risk management lies with the risk managers. Transactions are screened versus the Exclusion List and then categorised as to relative environmental risk. Risk managers occasionally visit transactions categorised as high environmental risk.
VTB Bank will be required to conduct an environmental and social risk management training in order to comply with the EBRD's Environmental and Social Policy and Performance Requirements 2: Labour and Working Conditions and Performance Requirement 9: Financial Intermediaries throughout the entire portfolio of its activities and operations.
VTB bank and its activities and operations shall comply with Georgian environmental, health and safety and public consultation regulations and standards and with EBRD's Performance Requirements.
VTB Bank shall submit to the EBRD Annual Environmental Reports in a format and contents satisfactory to the Bank.
Under the framework of the Georgia Small Enterprise Lending Programme, technical assistance aimed at developing VTB Georgia’s skills in MSME lending has been previously provided through donor funds from EU, Japan and USAID.
In addition, the bank benefited from an Institution Building Programme aimed at strengthening and consolidating its key management and operational areas through donor funds from France and United Kingdom.
Head of International Relations
VTB Bank (Georgia)
37 D. Uznadze Str.
Tel: (+995 32) 505 761
Fax: (+995 32) 999 139
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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