IFC Anchors First Healthcare Social Bond in the Caucasus to Improve Care in Georgia

• First healthcare social bond in the Caucasus to expand oncology and outpatient care in Georgia, boosting outpatient visits, particularly in rural areas.
• Largest social bond in the region and the largest corporate local-currency issuance in Georgia, supporting local capital market development.
• Mobilizes private investment to improve healthcare access for vulnerable populations.

Tbilisi, Georgia, September 17, 2025 —IFC is anchoring a 350 million Georgian lari (equivalent of approximately $130 million) social bond issuance by Georgia Healthcare Group, the country’s largest healthcare services provider, through a subscription of 40 million Georgian lari, to expand access to healthcare, particularly to high-quality oncology care in Georgia.

This landmark issuance is the first of its kind in the healthcare sector in the Caucasus and represents the largest corporate social bond in the region. It is also the largest local-currency domestic corporate bond issuance in Georgia to date. The bond is issued under the company’s Social Bond Framework, prepared in accordance with the Social Bond Principles of the International Capital Market Association’s (ICMA).

Cancer remains one of the leading causes of death in Georgia. To address this challenge more effectively, shifting the healthcare focus toward early detection and preventive outpatient care is essential. This approach not only improves patient outcomes but also enhances system efficiency by reducing reliance on costly late-stage treatments. Improving availability of outpatient services and mobilizing resources for prevention are critical steps toward improving overall healthcare access and quality.

The social bond issuance is designed to channel funding into projects that support these goals, specifically those that broaden access to preventive and outpatient healthcare services, boosting outpatient visits, including in rural areas.

This issuance will also support the growth of Georgia’s bond market while allowing investors to pursue both financial returns and measurable social impact. Its local-currency denomination and five-year maturity will add depth to a market where only about one-third of bonds are issued in local currency. The transaction will also demonstrate the potential of social bonds to raise long-term funds domestically.

By improving healthcare access, the project also promotes human development and job creation, helping boost labor-force participation and income opportunities. In Georgia, the private sector owns 86 percent of hospital beds and dominates outpatient and diagnostic services.

IFC’s project is part of the World Bank Group’s broader efforts to expand affordable, quality healthcare, and develop Georgia’s capital markets.

To support private sector growth in Georgia, IFC has provided around $2.7 billion in long-term financing since 1995, including nearly $1.2 billion mobilized from partners, across 74 projects in financial services, agribusiness, manufacturing, and infrastructure. IFC has also supported over $433 million in trade through its trade finance program and implemented several advisory projects focused on private sector development.