Summary of Proposed Investment
Project Number
8741
Company Name
TBC BANK JSC
Date SPI Disclosed
Nov 20, 1997
Country
Georgia
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Feb 24, 1998
Signed : Feb 26, 1998
Invested : Jul 21, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Georgia-TBC Bank |
| Region | Europe |
| Sector |
Projected Board DateDecember 20, 1997
Company NameTBC Bank
Technical Partner and/or Major Shareholders
TBC-Bank was established as a joint-stock bank under the laws of Georgia in December 1992. Its majority shareholder is a diversified industrial group.
Project Cost Including proposed IFC investment
IFC would provide a five-year credit line of US$3 million to TBC Bank (the Bank) for onlending to private Georgian enterprises.
Location of project and Description of site
Tbilisi, Georgia
Description of Company and Purpose of Project
The project involves providing a credit line to TBC Bank to support the development of its medium term lending business. Proceeds of the credit line would be used for onlending to private Georgian enterprises for trade finance, working capital, and project finance. This would be the first line of credit to a majority Georgian-owned bank without a government guarantee. TBC Bank would be responsible for identifying, appraising and supervising sub-projects, and would also bear the credit risk of the sub-projects. IFC will seek to mobilize donor assistance to fund an advisor to the Bank, to provide assistance with (i) marketing and client identification; (ii) loan analysis and monitoring; (iii) portfolio grading and (iv) problem loan workout.
Environmental Category and Issues
Environmental Issues: This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. TBC Bank will be required to ensure the borrower’s business is conducted in accordance with IBRD’s and host country’s environmental guidelines.
| Date SPI sent to PIC | November 20, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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