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Summary of Project Information (SPI) |
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| Project number | 9322 |
| Project name | TbilComBank Joint Stock Commercial Bank of Tbilisi |
| Country | Georgia |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | TbilComBank |
| Environmental category | FI |
| Date disclosed | December 2, 1998 |
| Status | Active |
| Previous Events | Invested: August 25, 1999
Signed: May 28, 1999
Approved: April 13, 1999 |
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Summary Of Project Information (SPI)
| Project Name | Georgia-TbilComBank |
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| Region | Europe |
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Project No009322
Projected Board DateJanuary 15, 1998
Company NameTbilComBank Joint Stock Commercial Bank of Tbilisi
Technical Partner and/or Major Shareholders
TbilComBank received a Georgian banking license in August 1992. Its majority shareholders are both foreign legal entities, owned by Georgians and foreign citizens, and Georgian citizens.
Project Cost Including proposed IFC investment
A five-year credit line of US$3 million to TbilComBank 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 TbilComBank to support the development of its commercial lending business. Proceeds of the credit line would be used for onlending to private Georgian enterprises for trade finance, working capital and project finance. TbilComBank would be responsible for identifying, appraising and supervising sub-projects under the proposed IFC credit line and would also bear the credit risk. This would be the first non-government-guaranteed credit line to TbilComBank from an international financial institution. IFC’s credit line would be combined with a donor funded advisor to TbilComBank 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
This is an environmental review category FI Tier 2 project according to IFC's environmental review procedure. TbilComBank will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and, if applicable, World Bank Group environmental, health and safety guidelines.
| Date SPI sent to InfoShop | December 2, 1998 |
“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 |
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