Senior unsecured loan to JSC TBC Bank ('TBC') in the amount of up to USD 25 mln, of which 75% (USD 18.75 million) will be provided by the European Bank for Reconstruction and Development ('EBRD') and USD 6.25 million by the Green Climate Fund ('GCF') under the GCF-Green Economy Financing Facility ('GEFF') Regional Programme.
The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies by local individuals, SMEs and corporates, in line with the standards and reporting requirements of the GEFF Regional (Georgia Facility) policy statement, in a gender-responsive way. 100 per cent of the loan proceeds will be related to Green Economy Transition investments in line with the GET Handbook.
The project supports the Green transition quality through the provision of funding and know-how to financial intermediaries financing private sector investments in high performing climate change mitigation and adaptation technologies and solutions. The project will contribute to transition to low-carbon and climate-resilient economy in Georgia.
TBC Bank ("TBC") is a leading universal bank in Georgia holding more than one third of market share in total banking assets, loan and deposit portfolios in Georgia. It offers a full range of products and services (including FX transactions, non-financial services to support business development, as well as leasing, brokerage and investment banking via its subsidiaries) to the retail, corporate and MSME clients through the wide distribution network of 135 branches and digital channels.
