TbilComBank Joint Stock Commercial Bank of Tbilisi

completed

Summary Of Project Information (SPI)Project NameGeorgia-TbilComBank      RegionEuropeSectorProject No009322Projected Board DateJanuary 15, 1998Company NameTbilComBank Joint Stock Commercial Bank of TbilisiTechnical Partner and/or Major Shareholders TbilComBank received a Georgian banking license in August 1992. Its majority shareholders are both foreign legal entities, owned by Georgians and foreign citizens, and Georgian citizens.Project Cost Including proposed IFC investment A five-year credit line of US$3 million to TbilComBank 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 TbilComBank to support the development of its commercial lending business. Proceeds of the credit line would be used for onlending to private Georgian enterprises for trade finance, working capital and project finance. TbilComBank would be responsible for identifying, appraising and supervising sub-projects under the proposed IFC credit line and would also bear the credit risk. This would be the first non-government-guaranteed credit line to TbilComBank from an international financial institution. IFC’s credit line would be combined with a donor funded advisor to TbilComBank 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 This is an environmental review category FI Tier 2 project according to IFC''s environmental review procedure. TbilComBank will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and, if applicable, World Bank Group environmental, health and safety guidelines. Date SPI sent to InfoShop      December 2, 1998“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