DCM Georgia Healthcare Group Social Bond (IFC-51289)

Countries
  • Georgia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 9, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Georgia Healthcare Group JSC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 25, 2025

Disclosed by Bank Sep 17, 2025

Contribute Information
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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, on September 17, 2025, IFC supported the 5-year social bond issuance by Georgia Healthcare Group JSC (GHG) of GEL350 million with an own account subscription of up to US$20 million in GEL-equivalent as an anchor investor. The bond will be listed on the Georgia Stock Exchange.

The most significant expected project-level outcome lies in increasing access to high-quality oncology care in Georgia. Beyond the Project, the IFC Investment is expected to contribute to the development of Georgia’s capital markets and enable increased adoption of corporate bonds including social bonds.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project since as per IFC's Policy on Environmental and Social Sustainability (2012) and on this, and information reviewed by the IFC, the project will have limited adverse E&S impacts that are few, site specific and largely reversible, and readily addressed through mitigation measures and good international industry practice (GIIP).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

On September 9, 2025, IFC’s board authorized an investment of US$20 million in the social bond of GHG. The proceeds of the bond will be used for eligible CAPEX in accordance with the criteria set forth in the Social Bond Framework issued by the Company. 

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Georgia Healthcare Group JSC - GHG is Georgia’s leading provider of healthcare services, operating polyclinics, hospitals, and diagnostics businesses. GHG is fully owned by Georgia Capital, an LSE-listed diversified investment holding company focusing on buying, building, and developing businesses in Georgia.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - JSC Georgia Healthcare Group Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Georgia Healthcare Group
Irakli Gujabidze
Head of Corporate Reporting and Analysis Division
+995 577 640 073
igujabidze@ghg.com.ge
24a Sulkhan Tsintsadze Street, II floor, Tbilisi 0177, Georgia
https://ghg.com.ge/en/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works