30992 - Tbilvino

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Summary of Proposed Investment

Project Number

30992

Company Name

TBILVINO JSC

Date SPI Disclosed

Aug 3, 2011

Country

Georgia

Industry

Agribusiness and Forestry

Projected Board Date

Sep 9, 2011

Status

Completed

Sector

Wineries

Department

Gbl Ind, Manufact, Agribus & Services

Environmental Category

B - Limited

Previous Events

Approved : Sep 19, 2011
Signed : Sep 28, 2011
Invested : Jan 10, 2012

Project Description

Established in 1962, Tbilvino (the “Company” or “Tbilvino”) is one of the largest Georgian wine-makers and exporters, concentrates exclusively on wine production and procures grapes from more than 300 Georgian farmers, located in Kakheti Region of Georgia. The Proposed IFC loan will be will be utilized for: (i) construction of primary facilities for grape collecting and crushing, in Kvareli region of Georgia; (ii) working capital requirement and (iii) additional capital expenditures to increase capacity of wine holding refrigeration tanks (collectively the “Project”).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	1.50
Equity

Development Impact

The project will have following development impact: i) Promotion of formal private sector abiding by rules, regulations and obligations; ii) Creation and preservation of direct and indirect employment in rural areas of Georgia, where the job opportunities are scarce; iii) Linkage to farmers - IFC''s support will ensure the sustainability and growth of income for more than 300 Georgian farmers; iv) Improvement of product quality and food safety management systems, compared to uncontrolled producers; v) Contribution to the recovery of Georgia''s wine sector, helping to increase the Country''s export potential; vi) Generating additional amount of taxes paid by the Company to the Government.

IFC''s expected additionality would include: i) Providing long-term financing, which is scarcely available on the market; ii) Standard-setting in Environmental & Social Issues: IFC could help Tbilvino to improve its capacity in many areas of environmental and social management, with the introduction of policies and established standards which goes beyond the local regulations; iii) Providing a "stamp of approval": IFC''s participation will provide confidence to potential lenders and investors in the Georgian wine sector.

This investment is a Category B project under IFC’s Policy on Social and Environmental Sustainability because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized good international industry practices, guidelines, design criteria, local regulations and industry certification schemes. The key environmental, social and occupational health & safety issues reviewed with this investment include; quality, environmental and safety management systems, supply chain management, child labor, labor transparency, food safety programs and certification at processing and commercialization, organic and packaging waste, water consumption and waste water treatment, energy efficiency and air emissions, occupational health and safety, land acquisition, life, fire and traffic safety.

Contacts

For Inquiries About the Project, Contact

Mr. George Margvelashvili
President
JSC TBILVINO
Address: Sarajishvili Ave. #2, Tbilisi, Georgia

Tel: +995 32 65 4400Fax: +995 32 65 4020
Email: gmargvelashvili@tbilvino.com.ge,
http://www.tbilvino.ge

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

JSC TBILVINOSarajishvili Ave. #2,
0153, Tbilisi, Georgia.
Tel: +995 32 65 4400Fax: +995 32 65 4020
http://www.tbilvino.ge

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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