Financed ProjectsBank of Georgia

Identification Code:

OP/00/0033

Total Operation Cost:

0

Maturity:

6 months

Operation Status:

Description and Purpose of the Operation:

Providing trade finance products, pre-export financing and multiple buyers credit, for an amount of up to USD 3,000,000.

Countries of Operation:

Georgia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Bank of Georgia is a former state owned bank, which was privatized in October 1994. the majority of the bank’s shares has been purchased by its employees. The Bank of Georgia is incorporated as a joint stock commercial bank.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The Bank of Georgia had broad and well established relations with many Georgian exporting companies. As a result, BSTDB was in good position to support additional and increased trade in the region. In the interest of facilitating economic development in member counties, BSTDB wants to support local financial intermediaries, i.e. Bank of Georgia, and help this important sector of the economy grow.

Environmental Classification and Impact (summary):

In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities the Borrower is required to follow the BSTDB's Negative List of Goods, including the Environmental Exclusion List, and subject domestic legal requirements, as well as make sure that the Beneficiaries fully comply with these requirements. The Borrower is also required to immediately notify the Bank of occurrence of any incident or accident relating to any underlying export or import transaction of which the Borrower is, or ought to be aware, and which is likely to adversely affect the state of environment, and/or human health and safety.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org