PROJECT

Projects

Summary of Investment Information

Project Number

34173

Company Name

JSC BANK OF GEORGIA

Date SPI Disclosed

Nov 5, 2013

Country

Georgia

Region

Europe

Projected Board Date

Dec 9, 2013

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Dec 16, 2013
Signed : Dec 26, 2013
Invested : Jan 15, 2014

Sector

Commercial Banking - General

Project Description

The proposed investment consists of up to a US$65 million subordinated debt to Bank of Georgia (“BoG” or “the Bank”), which is expected to be funded fully through the IFC Capitalization Fund (the “Cap Fund”), as the proposed project is fully consistent with the Cap Fund’s objective of supporting a systemic bank that is capable of providing credit to emerging economies but is facing significant challenges to raise capital in international capital/credit markets, due to the global financial crisis.

The proposed investment intends to strengthen BoG’s balance sheet by expanding its capital base, as well as support its growth strategy,

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation