GCF GEFF Regional - Georgia - TBC Bank III (EBRD-57524)

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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Oct 21, 2026
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
JSC TBC Bank
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 37.50 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.
Loan Amount (USD)
$ 37.50 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.
Project Cost (USD)
$ 50.00 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.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 10, 2026

Disclosed by Bank Sep 15, 2026

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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.

As stated by the EBRD, the project consists of a senior unsecured loan to JSC TBC Bank ('TBC') in the amount of up to USD 50 million, of which 75% (up to USD 37.5 million) will be provided by the European Bank for Reconstruction and Development ('EBRD') and up to USD 12.5 million by the Green Climate Fund ('GCF'), under the GCF-Green Economy Financing Facility ('GEFF') Regional Programme. The loan will have maturity of 5 years, with 2-year grace period.

The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local individuals, SMEs and corporates, in line with the standards and reporting requirements of the GEFF Regional (Georgia Facility) policy statement. 100 per cent of the loan proceeds will be related to Green Economy Transition investments in line with the GET Handbook.

ADDITIONALITY

Key sources of additionality under the project are:

(i) Financing structure that is not widely available in the market (medium to long term funding with longer grace period);

(ii) Innovative financing structures and/or instruments, i.e. green finance instrument that integrates aspects such as climate and environmental, social and governance (ESG) standards and/or climate and ESG risk considerations into the financing structure.

(iii) Standard-setting by helping projects and clients achieve higher standards with EBRD expertise over energy and resource efficiency and climate resilience financing via provision of energy and climate audits, minimum performance standards of technologies, climate-related strategies and policies, monitoring, reporting and verification (MRV) systems etc.

ENVIRONMENTAL AND SOCIAL SUMMARY

Categorised FI (ESP 2024). TBC Bank is an existing EBRD client and is currently meeting EBRD Environmental and Social Requirements (ESRs) 2, 4 and 9 under its existing EBRD exposures. The project is expected to have low E&S risk. The main E&S risks relate to potential impacts from financed subprojects and related supply chain risks. E&S due diligence found that the client's environmental and social management system (ESMS) is appropriate for the risk profile of the eligible subprojects.

TBC Bank must also continue to publicly disclose information on its ESMS in line with ESP 2024.

TECHNICAL COOPERATION AND GRANT FINANCING

TC:the project is supported by Technical Cooperation (TC) package funded by GCF. The objective of the TC is to assist TBC with capacity building, implementation and monitoring of the programme. The consultant will assess and verify the technical implementation of the investments by the sub-borrowers when needed. The consultant will transfer know-how and raise awareness about climate change mitigation and adaptation technologies amongst retail clients, SMEs and corporates, as well as provide project appraisal support and guide sub-borrowers to most optimal technology choices.

Non-TC:Blended Concessional Finance: The project is supported by non-TC grant funding in the form of concessional co-lending from the GCF. The credit line consists of the EBRD portion (75%) and GCF portion (25%), USD 37.5 million and USD 12.5 million, respectively.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The EBRD categorized the project E&S risk as 'FI'.

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, TBC Bank ('TBC') is a leading universal bank in Georgia, with around 35-40% market share in all key metrics. TBC offers a comprehensive range of products and services, including FX transactions, non-financial business development support, and specialized financial solutions such as leasing, brokerage, and investment banking through its subsidiaries. Serving retail, corporate and MSME clients, TBC operates an extensive distribution network of around 119 branches and digital channels.


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 - JSC TBC Bank:

Maia Kacharava
Email: IFM@tbcbank.ge 
Phone: +(995 32) 227 27 27
Website: https://tbcbank.ge/ 
Address: 7 Marjanishvili St. Tbilisi, Georgia 0102

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