| Project Detail |
Location:
Georgia
Project number:
39730
Business sector:
Depository Credit (banks)
Notice type:
Private
English-language PSD published:
02 Dec 2024
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed
In 2008, the EBRD approved three loans to the Bank of Georgia – two subordinated loans and a senior loan – with total value not in excess of USD 100 million, intended to respond to the compounding effects of both the conflict in the country during the summer 2008 and the world-wide financial crisis.
Project Objectives
The Bank’s provision of loans was to be used to strengthen the Bank of Georgia’s capital, improve the asset and liability tenor of existing loans and finance new loans. The purpose of the transaction was to retain the Bank of Georgia’s ability to lend to het economy while maintaining adequate liquidity position, improve its asset-liability tenor matching, strengthen its capital and restore confidence in the Georgian banking sector following the uncertainty caused by conflict in 2008. |
