According to FMO website, Long term finance is still scarce in Georgia. This funding for TBC-Bank/ Bank Republic will be able to service the growing SME-sector. FMO’s funding will be used to sustain TBC-Banks, via the Bank Republic network, growth in the Georgian SME-sector.
In October 2016, Bank Republic was acquired by TBC Bank. With this acquisition TBC-bank became the largest bank in Georgia by all key metrics. The bank services over 1.8 million clients through a diversified multichannel platform that comprises 129 branches, one of the largest networks of ATMs and POS terminals in Georgia. TBC-Bank (incl Bank Republic) employs over 5,418 people across their operations.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/