BANK OF GEORGIA (FMO-54836)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
A
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
Jul 26, 2018
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
Bank of Georgia
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 65.34 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 GEL 160.00 MLN
Converted using 2018-07-26 exchange rate.
Loan Amount (USD)
$ 65.34 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 GEL 160.00 MLN
Converted using 2018-07-26 exchange rate.

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to FMO website, with the GEL-loan, FMO supports the natural growth of the Bank's overall loan portfolio in local currency. Minimizing the forex risk for the Banks clients. Due to an active de dollarization policy of the Central Bank, there is a scarcity in the market for GEL. With this facility FMO supports the Bank.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Bank of Georgia on one of the largest privately owned banks in Georgia. The Bank has a Premier listing at the London Stock Exchange and is exempt from disclosure prior to contacting. (share sensitive information).

Contact Information

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/independent-complaints-mechanism