According to the EBRD, the project consists of a subordinated loan in the amount of USD 30 mln to be provided to TBC Bank. The proceeds of the subordinated loan will be used to strengthen capital structure of the bank.
The project will help optimize the capital structure and support resilience of the systemic bank in Georgia, one of the largest financial institutions in the country, supporting sustained growth in its lending.
As part of the project, TBC will become the first Partner Financial Institution (PFI) in the Caucasus region to develop Paris Alignment transition plan and to commit to a multi-year cooperation with EBRD on the Paris Alignment. The transition plan, as defined in the EBRD's Paris Alignment Methodology for indirect finance, will set out credible milestones to demonstrate that the PFI is on a trajectory to become aligned with the Paris Agreement goals in a timeframe consistent with the bank's ESG agenda.
As stated by the EBRD, TBC Bank is a leading universal bank in Georgia holding more than one third of market share in total banking assets, loan and deposit portfolios in Georgia. It offers a full range of products and services (including FX transactions, non-financial services to support business development, as well as leasing, brokerage and investment banking via its subsidiaries) to the retail, corporate and MSME clients through its wide distribution network of over 140 branches and digital channels.
Financial Intermediary -TBC Bank JSC:
ACCESS TO INFORMATION
You can request information by emailing: email@example.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: firstname.lastname@example.org 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