GEORGIA GLOBAL UTILITIES JSC (FMO-58364)

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.
Bank Risk Rating
B
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 23, 2020
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
Georgia Global Utilities JSC
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Water and Sanitation
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)
$ 65.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 65.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Aug 17, 2020


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Project Description

According to the Bank's website, the project provides funding to the Georgia Global Utilities JSC to refinance all debt at GGU's hydropower and wind power plants and to invest in capital expenditure program for the water and waste water business.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Georgia Global Utilities JSC -- Implementing Company

Georgia Global Utilities JSC (GCU) manages the renewable energy and water utility business of London-listed investment company Georgia Capital PLC. GGU through its subsidiaries operates 220MW of hydropower plants and owns the only operational (21MW) wind power plant in the country. In addition, GGU fully owns Georgian Water & Power LLC, the sole provider of water and wastewater services in the capital city of Georgia, Tbilisi.

Contact Information

Project contacts not provided at the time of disclosure

 

ACCESS TO INFORMATION

As part of FMO's 'ex-ante disclosure' (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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