Early Warning System

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

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."

Borrower

Government of Georgia

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance
Law and Government
Technical Cooperation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

Not Disclosed

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.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 9, 2025

Disclosed by Bank Apr 4, 2025

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

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 Bank’s website, georgian banks lack proper IT systems to record, manage risks, automate settlement and accounting for financial market instruments (like securities or derivatives). Underdeveloped financial market infrastructure and lack of automated IT solutions established at Georgian banks are seen as one of the key challenges for market development, and this has been identified as one of the top challenges according to recent survey conducted by Georgian Financial Markets Treasuries’ Association (GFMTA) and as a result of the EBRD-led Technical Cooperation project, finalised in 2023, Identifying and Measuring Interest Rate Risk in Banking Books.

Therefore, procurement of a state-of-the art treasury management systems (TMS) is considered essential for further market development. However, the small size of the financial markets in Georgia has made it less appealing to invest in expensive TMS. Understanding the common scope of treasury operations, the bank treasuries chose a path of shared implementation model to save costs, which is especially important for smaller size banks. The TMS will be installed at a centralised location with a shared functionality in scope, and each bank will be represented as a separate and segregated entity on the same instance.

The objective of the proposed assignment is to ensure successful completion of the TMS implementation project. The Advisory services, proposed by this project, will be used to work closely with the banks, the GFMTA and relevant local stakeholders to facilitate the implementation of the project, that includes recruitment and leading the project team, coordinating actions with external parties as necessary, leading the contractual negotiations with the vendor and overseeing the implementation throughout the project lifecycle.

Successful implementation of the TMS will create a robust and automated IT infrastructure at the bank treasuries and pave the way for further development of the financial markets in Georgia.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Investment amount not available at the time of disclosure.

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.

No contacts available at the time of disclosure.

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