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40.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	40.0
Equity

* These investment figures are indicative

The most significant expected project-level outcomes include direct and indirect job creation and broader value addition across Georgia’s economy. Georgia faces structural employment challenges, including high unemployment among youth and rural populations, limited formal job opportunities, and vulnerability to external shocks. Creating and preserving quality jobs is critical for inclusive growth, reducing poverty, and supporting economic resilience. The Project will also accelerate car fleet modernization by replacing Georgia’s aging, highly polluting vehicles with cleaner, safer alternatives. Beyond the project-level effects, IFC expects the investment to catalyze innovation in Georgia’s capital markets, enhancing sector competitiveness.

IFC brings both financial and non-financial additionality. Financially, the proposed investment will strengthen Tegeta’s balance sheet by converting shorter-term bonds into a long-term local-currency bond, improving the Company’s financial sustainability and reducing refinancing risk. IFC’s participation in a five-year GEL bond will help set a precedent for local-currency corporate bonds and help deepen the domestic capital market, while the sustainability-linked element - an innovative instrument in Georgia’s market - provides an additional layer of impact that helps to mobilize three to four times IFC’s investment. Non-financially, IFC will deliver targeted advisory support as follows: (i) on workforce development: assess recruitment, retention, and career advancement practices to foster an equitable workplace for men and women; and (ii) on operational efficiency: reduce energy and water consumption at select facilities to lower costs and improve resource efficiency. Tegeta will develop Environmental and Social Management System (ESMS) aligned with IFC performance standards. This will enable Tegeta to better identify and manage environmental and social risks across its operations and enhance compliance with best practices.

Indicator	Metrics	Comments
Board Composition - Total (#)	individuals
Board Composition - Women (#)	individuals

This project has been classified as Category B in accordance with IFC’s Policy on Environmental and Social Sustainability. IFC’s investment will be allocated toward the acquisition and maintenance of hybrid or electric vehicles, supporting the company's decarbonization initiatives. The scope and nature of the project are not expected to pose risks to community health, safety, or security, nor are they anticipated to involve land acquisition, biodiversity impacts, or effects on cultural heritage. The associated E&S risks and impacts are considered limited and can be effectively managed through adherence to established industry good practices.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.