PROJECT

Projects

Summary of Investment Information

Project Number

33331

Company Name

FINCA BANK

Date SPI Disclosed

Apr 26, 2013

Country

Georgia

Region

Europe

Projected Board Date

May 27, 2013

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : May 29, 2013
Signed : May 31, 2013
Invested : Nov 21, 2013

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

IFC proposes to issue a senior loan, with a maturity of 4 years, up to US$7 million denominated in GEL or in US$ to be committed in two tranches.

IFC also proposes to enter into a cross-currency swap with a notional amount of up to US$5 million to allow FINCA Georgia to swap part of its foreign currency denominated borrowings into GEL.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation