FIF - EaP SMEC - ProCredit Georgia (EBRD-51740)

Countries
  • 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
Approved
Bank Risk Rating
FI
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
Apr 27, 2021
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.
Borrower
PROCREDIT BANK GEORGIA JSC
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 12.09 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 10 million
Converted using 2021-04-27 exchange rate.
Project Cost (USD)
$ 12.09 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 10 million
Converted using 2021-04-27 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 28, 2021

Disclosed by Bank Apr 30, 2021


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Project Description

According to the bank's website, FIF - EaP SMEC - ProCredit Georgia is a five-year amortising senior loan to be provided to ProCredit Bank Georgia to enable the bank to support eligible MSMEs under SME Competitiveness Programme in Eastern Partnership for sustainable investments in technology and equipment. The project will enable the company to finance long-term investments of Georgian MSMEs in upgrading their technology and equipment necessary to meet EU standards in terms of product quality, health and safety measures, and environmental protection. At least 70% of all financed sub-loans are expected to be compliant with EBRD Green Economy Transition (GET) approach.

 

Investment Description

Contact Information

JSC ProCredit Bank, Georgia
info@procreditbank.ge
+995 32 220 2222

 

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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: pcm@ebrd.com or you can submit a complaint online using an online form at: 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