Financed ProjectsBasisbank SME V

Identification Code:

OP/24/0023

Total Operation Cost:

15.000.000

Maturity:

48 months

Operation Status:

Description and Purpose of the Operation:

Basisbank SME V

Countries of Operation:

Georgia (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

5th SME Loan Facility to JSC “Basisbank” Georgia

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

This operation involves a US$ 15mn lending facility with JSC Basisbank, for on-lending to eligible small and medium sized enterprises (SMEs). It is expected to have modest but favorable economic benefits for the Georgian economy, the most relevant being additional tax revenue gains from increased economic activity resulting from the financing provided, increases in employment, and multiplier effects for other parts of the economy. The regional cooperation element is likely to be nil, as most of the beneficiary SMEs are likely to be mainly oriented to the domestic market.

Environmental Classification and Impact (summary):

The Borrower has a functioning Environmental and Social Management System (ESMS) consisting of E&S Risk Management Instruction. It establishes processes for identifying, assessing, managing, mitigating and reporting material environmental and social risks across Basisbank’s businesses loan portfolio. Environmental and social risk issues covered by the E&S Policy include occupational health and safety, labor and employment practices, human rights, resource efficiency, pollution prevention, biodiversity and cultural heritage.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org