51289 - DCM Georgia Healthcare Group Social Bond

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Summary of Investment Information

Project Number

51289

Company Name

GEORGIA HEALTHCARE GROUP JSC

Date SPI Disclosed

Sep 17, 2025

Country

Georgia

Region

Europe

Projected Board Date

Sep 9, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 25, 2025

Department

Regional Industry MAS LAC & EUR

Industry

Health, Education and Life Sciences

Previous Events

Approved : Sep 9, 2025
Signed : Sep 11, 2025
Invested : Sep 17, 2025

Sector

Hospitals and Clinics

Project Description

On September 17, 2025, IFC supported the 5-year social bond issuance by Georgia Healthcare Group JSC (GHG or the Company) of GEL350 million with an own account subscription of up to US$20 million in GEL-equivalent as an anchor investor (the IFC Investment). The bond will be listed on the Georgia Stock Exchange.

GHG is Georgia’s leading provider of healthcare services, operating polyclinics, hospitals, and diagnostics businesses.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.0
Equity

Development Impact

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of sessions (i.e., chemotherapy, dialysis)	number	Oncology	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Patients Served (#)	individuals	Polyclinics	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Patients Served (#): (target group)	individuals	Polyclinics patients reached in Batumi, Kutaisi, Zugdidi, Chakvi, Rustavi	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Social Bonds issued	#	Number of bonds issued in healthcare sector in Georgia	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Direct Employment (#) Operations And Maintenance	individuals		Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Female Direct Employment (#) Operations And Maintenance	individuals		Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment

E&S Category Rationale / Risks and Mitigation

This is a Category B project since as per IFC's Policy on Environmental and Social Sustainability (2012) and on this, and information reviewed by the IFC, the project will have limited adverse E&S impacts that are few, site specific and largely reversible, and readily addressed through mitigation measures and good international industry practice (GIIP).

The key E&S issues that were reviewed included (i) company’s capacity and systems to manage E&S impacts and risks during construction and operation of the new oncology unit and operational risks associated with the new equipment at other assets (ii) radiological, cytotoxic and other health and safety risks to workers, patients and visitors (iii) labor and working conditions, including those relating to Gender Based Violence and Harassment (GBVH) (iv) greenhouse gas emissions (v) management of hazardous materials and waste (vi) LFS and emergency preparedness and response (vii) patient and child welfare including protection from sexual exploitation abuse and harassment (SEAH) related risks (vii) stakeholder engagement and grievance mechanisms.

Contacts

For Inquiries About the Project, Contact

Georgia Healthcare Group
Irakli Gujabidze
Head of Corporate Reporting and Analysis Division
+995 577 640 073
igujabidze@ghg.com.ge
24a Sulkhan Tsintsadze Street, II floor, Tbilisi 0177, Georgia
https://ghg.com.ge/en/

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Local Access of Project Documentation

Email: igujabidze@ghg.com.ge; nikatsiklauri@vian.health

Postal address: 24a Sulkhan Tsintsadze Street, II floor, Tbilisi 0177, Georgia

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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