The objective of this project is to contribute to the de-dollarization of Georgia’s highly dollarized economy. The fund of this project will use part of the funds in order to reduce inequalities in the segment of youth.
With this GEL-loan, FMO supports the natural growth of the Bank's overall loan portfolio in local currency. It also contributes to minimize the forex risk for TBC-bank’s clients. FMO will contribute to the de-dollarization of Georgia’s highly dollarized economy.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
TBC-bank is one of the largest privately owned banks in Georgia. Consolidation of TBC-bank’s position in the SME market is underlined with their past successful acquisitions of Bank Constanta, Bank Republic and Pro Credit portfolio. TBC-bank is listed on the Premium Segment of the London Stock Exchange.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Georgia Capital||Parent Company||Energy||owns||Georgia Global Utilities Green Bond 2020||Client||Energy|
|TBC Bank||Investor||Finance||invests in||Georgia Capital||Parent Company||Energy|
|TBC Bank||Investor||Finance||invests in||Georgia Global Utilities Green Bond 2020||Client||Energy|
Project contacts are not available at the time of disclosure.