FIF - EaP WiB - PCBG (EFSD+ 1+3) (EBRD-55055)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Georgia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Dec 12, 2023
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
ProCredit Bank Georgia JSC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
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)
$ 8.64 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.
Currency conversion note:
Bank reported 8
Converted using 2023-12-12 exchange rate.
Loan Amount (USD)
$ 8.64 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.
Currency conversion note:
Bank reported 8
Converted using 2023-12-12 exchange rate.
Project Cost (USD)
$ 8.64 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.
Currency conversion note:
Bank reported 8
Converted using 2023-12-12 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 5, 2024

Disclosed by Bank Dec 14, 2023


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Can you contribute information about this project?
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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 EBRD, the project consists of a senior unsecured loan in the amount of up to EUR 8 million to be provided to ProCredit Bank Georgia ('PCBG') to support investment financing for on-lending to women-led MSMEs in Georgia under the Women in Business (EaP WiB) Programme in the Eastern Partnership countries.

This will be the first WiB project between EBRD and PCBG, therefore adding one more participant to WiB framework. The project will address the gender related inclusion gap for access to finance in Georgia, as lending to women entrepreneurs might be hindered by the absence or shortage of collateral. The First Loss Risk Cover in PCBG's favour under EFSD+ Programme (Product 1), will enable the bank to enhance borrowing capacity of their target clientele. Moreover, as part of WiB programme EBRD will continue promoting women entrepreneurship and women participation in business by building or improving efficiency of respective entities through expertise and advisory services provided under the framework.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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.

As stated by the EBRD, ProCredit Bank Georgia has been operating in the Georgian banking sector more than two decades now, largely catering for the financial needs of SME segment and private clients through 4 branches, 1 service point and 7 self-service areas in 4 main cities of Georgia. As of 3Q23, the bank is ranked as 7th among the country's 15 banks and is holding up to 2.3% of sector assets and loans, and 2.0% of deposits.


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.

Financial Intermediary - ProCredit Bank Georgia JSC:

JSC ProCredit Bank, Georgia
Email: geo.info@procredit-group.com
Phone: +995 32 220 2222 / +995 32 220 2223
Website: https://www.procreditbank.ge/en
Address: 21 Al. Kazbegi Ave., Tbilisi 0160, Georgia

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

How it works

How it works