As stated by the IFC, the investment is a four-year senior loan of up to US$20 million equivalent to JSC Isbank Georgia under the Base of the Pyramid Platform. The Platform is designed to support lending to micro, small and medium enterprises by financial institutions in emerging markets to help mitigate the impacts and aftereffects of the COVID-19 pandemic on economic growth and livelihoods. Aligned with the Platform, the use of proceeds will be earmarked specifically for small and medium enterprises, including up to 50% to climate finance projects.
The IFC categorized the project as FI-2.
As stated by the IFC, Isbank Georgia JSC is an existing client of IFC and 100% subsidiary or Isbank Türkiye – a strategic client of IFC in Türkiye, and a part of the international Isbank Group which operates in 12 countries across Europe, Asia and North Africa. Founded in 1924, Isbank Türkiye is not only the largest private bank in Türkiye, but also the second largest bank (following the state-owned Ziraat Bank), with total consolidated assets of US$75bln as of YE2022. Isbank's credit ratings are “B- Stable from Fitch Ratings and B3 Stable from Moody's Investor Services.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - JSC “Isbank Georgia”:
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