Financed ProjectsVTB Bank Georgia

Identification Code:

OP/05/0476

Total Operation Cost:

0

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

BSTDB makes available a revolving credit line to VTB Bank Georgia (former United Georgian Bank) for the purpose of providing short-term export and import financing to Georgian companies. The facility will be used to finance sub-loans extended by VTB Bank to exporting and importing companies in Georgia.

Countries of Operation:

Georgia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

VTB Bank Georgia (former United Georgian Bank) was established in 1995 and became one of the largest universal banks in Georgia. At present it is majority owned by Vneshtorgbank (Russia) and has EBRD as a shareholder. Among other activities, UGB acquired good experience in servicing international trade transactions, including those among countries of the Black Sea region.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

By working with VTB Bank Georgia, BSTDB will be able to reach a larger number of companies in Georgia and contribute to increasing of intra- regional trade among member countries.

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 FI shall 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 shall 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