TBC Bank Credit Line

completed

Summary Of Project Information (SPI)Project NameGeorgia-TBC Bank     RegionEuropeSectorProject No008741Projected Board DateDecember 20, 1997Company NameTBC BankTechnical Partner and/or Major Shareholders TBC-Bank was established as a joint-stock bank under the laws of Georgia in December 1992. Its majority shareholder is a diversified industrial group.Project Cost Including proposed IFC investment IFC would provide a five-year credit line of US$3 million to TBC Bank (the Bank) for onlending to private Georgian enterprises.     Location of project and Description of site Tbilisi, GeorgiaDescription of Company and Purpose of Project The project involves providing a credit line to TBC Bank to support the development of its medium term lending business. Proceeds of the credit line would be used for onlending to private Georgian enterprises for trade finance, working capital, and project finance. This would be the first line of credit to a majority Georgian-owned bank without a government guarantee. TBC Bank would be responsible for identifying, appraising and supervising sub-projects, and would also bear the credit risk of the sub-projects. IFC will seek to mobilize donor assistance to fund an advisor to the Bank, to provide assistance with (i) marketing and client identification; (ii) loan analysis and monitoring; (iii) portfolio grading and (iv) problem loan workout.Environmental Category and Issues Environmental Issues: This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. TBC Bank will be required to ensure the borrower’s business is conducted in accordance with IBRD’s and host country’s environmental guidelines.           Date SPI sent to PIC  November 20, 1997    “This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384