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.
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.
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ACCOUNTABILITY MECHANISM OF EBRD
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 email@example.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.