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Financing Georgian SMEs
Project
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Signature date
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Location
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Georgia
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Financing tool
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Financing amount (Euro)
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100000000
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Financing details
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EUR 100m loan
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Customer
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JSC TBC BANK
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Type of customer
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Financial institution
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Country of headquarters
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Georgia
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Project number
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PGE1043
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Environmental and social ranking
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IF-A
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and TBC have joined forces again to continue to support financial inclusion for Georgian entrepreneurs, with a focus on women entrepreneurs and climate projects.
Client presentation
JSC TBC Bank (TBC Bank) is Georgia’s leading bank with a market share of around 40%.
Project description
Proparco has allocated a EUR 100m loan to JSC TBC Bank (TBC Bank) in Georgia. This loan, with a maturity of seven years, will primarily serve to finance investments related to the climate and the promotion of women entrepreneurs in Georgia. This facility will strengthen TBC’s leading position in Georgia’s banking sector for green and sustainable loans. It will also contribute to inclusive economic growth in the country.
Project impact
The expected development impacts of this financing are as follows:
- Through this credit line with 70% dedicated to the Climate, Proparco is supporting TBC’s aim of developing its portfolio with climate co-benefits. It is also contributing to increasing the development of climate finance in Georgia
- The project qualifies under the 2X Challenge based on the criteria 2 “Leadership”, 3 “Employment” and 5 “Investments through financial intermediaries”. 30% of the credit line is dedicated to financing that fulfils the 2X criteria. In addition, 38% of the members of the Board of Directors are women, women make up 67% of the payroll, and TBC has introduced HR policies promoting the inclusion and recruitment of women.
The project will thereby contribute to the achievement of SDG 5 (“Gender equality”), SDG 8 (“Decent work and economic growth”) and SDG 13 (“Climate action”).