Georgia Capital Eurobond (EBRD-49834)

  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 27, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Education and Health
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 5, 2018

Disclosed by Bank Mar 13, 2018

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project provides financing to subscribe to a Eurobond issued by Georgia Capital. The proceeds of this will be used by Georgia Capital to grow, expand, and modernize its existing subsidiaries, and invest in existing or new sectors. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
Private Actors Description

Georgia Capital is a holding company of a diversified group of businesses operating in healthcare, insurance, beverages, power & utilities and real estate. As of 31 December 2017, the Company generated revenues of US$ 150 million and EBITDA of US$ 46 million and reported total assets of US$ 1,078 million. The Issuer employs more than 16,000 people across its subsidiaries in Georgia and is one of the largest employers in the country.

As of today, the Issuer is ultimately 100 per cent owned by the LSE Premium Listed BGEO Group Plc (constituent of the FTSE 250 Index). BGEO Group Plc operates as a holding company with its two main assets being JSC Bank of Georgia ("BOG") and JSC Georgia Capital.

Contact Information

Giorgi Alpaidze
+995 322 444 190
+995 322 444 444

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at