PROJECT

Projects

Summary of Investment Information

Project Number

47839

Company Name

ISBANK GEORGIA JSC

Date SPI Disclosed

Nov 1, 2023

Country

Georgia

Region

Europe

Projected Board Date

Oct 2, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Apr 12, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Oct 2, 2023
Signed : Mar 29, 2024
Invested : Apr 10, 2024

Sector

Commercial Banking - SME Finance

Project Description

The investment is a four-year senior loan of up to US$20 million equivalent to JSC Isbank Georgia (ISBG) under the Base of the Pyramid (BOP) Platform (the Project). The Platform is designed to support lending to micro, small and medium enterprises by financial institutions in emerging markets to help mitigate the impacts and aftereffects of the COVID-19 pandemic on economic growth and livelihoods. Aligned with the Platform, the use of proceeds will be earmarked specifically for small and medium enterprises (SMEs), including up to 50% to climate finance projects. 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation