devinitorg/iati-policy-markers huggingface dataset:
BR Housing Project The proposed transaction would consist of up to US$20 million senior loan to Bank Republic (The Bank), a Georgian subsidiary of Société Générale, France (SG) to finance its mortgage lending. A senior loan has a proposed tenor of up to 10 years, with 2 year grace period, to make mortgages more affordable in Georgia. This facility will contribute to further development of Georgian mortgage market through financing local banks with much needed longer term funds. The project is expected to contribute to further development of mortgage market in Georgia, through financing the local bank with much needed longer term funds. The financing, combined with Bank Republic''s well-known local brand, its strong distribution channels, local expertise, and high-quality management, will help Bank Republic broaden access of Georgian individuals to high quality banking services and wider range of products. This investment is to be among very few IFI loans with a 10 year tenor provided to a Georgian bank.
BOG LC Bond DCM table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; }       IFC invested in a tradable Eurobond issued by Joint Stock Company Bank of Georgia (JSC BoG or the Bank), an IFC strategic partner in Georgia (the Project). BoG is a wholly owned subsidiary of Georgia-based JSC BGEO Group, whose parent BGEO Group PLC is incorporated in the United Kingdom and listed on the Premium segment of the London Stock Exchange (LSE). The issuance comprises new notes offered by JSC BoG in the amount of 500 million Georgian Lari (GEL), with a 3-year maturity (the Notes). Proceeds from the issuance of the Notes are being used by BOG to support GEL-denominated lending, primarily to retail banking clients, to finance existing liabilities and for other general working capital and corporate purposes. The Notes are listed on the Irish Stock Exchange under 144A/Reg S and were offered to qualified institutional buyers in the United States and to non-US persons elsewhere.     Playing the role of anchor investor in the Notes issuance, IFC made a commitment to purchase up to Georgian Lari equivalent of US$45 million in the order book. The Bank allocated IFC an entire committed amount of 108.34 million Georgian Lari, equivalent to approximately $45 million. (i) Demonstrate the ability of a Georgian entity to attract long-term funding in local currency from international investors through a market transaction during volatile economic times; (ii) Increase financial inclusion in Georgia. By providing long-term financing to BoG IFC supported a systemically important lender in Georgia, heightening BoGs role in diversifying the country's economic base, creating jobs, and fostering sustained economic growth. Banking sector penetration in Georgia remains low. In order to enlarge financial intermediation, it is essential to increase the flow of credit to individuals and MSMEs and the economy in general; and (ii) Help increase the Banks capacity to expand lending in local currency, helping borrowers avoid risks related to borrowing in foreign currency
BGEO Bonds Project IFC invested in a tradable Eurobond issued by Joint Stock Company BGEO Group (JSC BGEO or the Company), a Georgia-based wholly owned subsidiary of BGEO Group PLC Formerly Bank of Georgia Holdings PLC , incorporated in the United Kingdom (the Group), an IFC strategic partner in Georgia, (the Project). The issuance comprises new notes offered by JSC BGEO in the amount of US$350 million, with a 7-year maturity (the New Notes). Proceeds from the issuance of the New Notes are being used to provide senior funding to JSC Bank of Georgia (BOG) for the purpose of redeeming its outstanding notes due in 2017 under a tender offer and exit consent solicitation, which was announced on 30 June 2016, and to be retained by the Company and used for its general corporate purposes, including to fund investments in existing Group businesses and potential opportunistic acquisitions. The New Notes are listed on the Irish Stock Exchange under 144A/Reg S and were offered to qualified institutional buyers in the United States and to non-US persons elsewhere.   Playing the role of anchor investor in the New Notes issuance, IFC made a commitment to purchase up to US$70 million in the order book. The Company allocated IFC a final investment amount of US$25 million. (i)         Demonstrate the ability of a Georgian entity to attract long-term funding from international investors through a market transaction during volatile economic times; and (ii)        Increase financial inclusion in Georgia. By providing long-term financing to JSC BGEO, IFC supported a systemically important lender/investor in Georgia, heightening JSC BGEO''s role in diversifying the country''s economic base, creating jobs, and fostering sustained economic growth. Banking sector penetration in Georgia remains low. In order to enlarge financial intermediation it is essential to increase the flow of credit to MSMEs and the economy in general.
Bank of Georgia Credit Line Bank of Georgia has over 2,000 foreign and domestic shareholders, the majority which are current or former employees of the bank.     - Project Cost Including proposed IFC investment    The proposed IFC investment is a seven-year credit line of US$3 million to be onlent to Georgian citizens and companies.     - Location of project and Description of site    Bank of Georgia is headquartered in Tbilisi, and has branches across the country.    - Description of Company and Purpose of Project    The project is to provide a $3 million credit line and technical assistance package to the Bank of Georgia (BoG) to support the development of mortgage financing. The funds would be used solely for real estate-based financing, including acquiring, constructing or upgrading both commercial and residential property. In each case, the loan would be secured by a first-ranking mortgage on the property to be financed. The IFC loan would be accompanied by a program of specialized technical assistance (TA) to assist the BoG with :     - appraising, processing and supervising mortgage loans;   - administering the IFC funds; and    - developing and strengthening BoG''s policies relating to mortgage loans.     It is also envisaged that the TA team could undertake more general activities such as training credit officers on real estate appraisal and providing legal advice on facilitating mortgage financing.    - Environmental Category and Issues    This is an environmental review category C project. BoG will be required to apply IFCs Exclusion List to commercial property mortgages and to loans for new construction, and ensure that construction loans and commercial properties comply with applicable environmental and social requirements of Georgia.        Date SPI sent to InfoShop    January 11, 2000       This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:   Corporate Relations Unit    Telephone: (202) 473-7711   Fax: (202) 974-4384
SB Real Estate The Project consists of providing an up to US$13M revolving loan facility for the development of mostly affordable housing projects in Georgia sponsored by SB Real Estate (SBRE, the Company or the Borrower), a wholly-owned subsidiary of Bank of Georgia (BoG or the Bank). Development Impact include: (i) addressing the housing deficit; (ii) Job creation; (iii) enhanced local supply linkages; (iv) community development;  (v) support an emerging company with excellent sponsorship and management team; (vi)  demonstration effect to mobilize more funding into this much needed sector.
GCap SL Bond The proposed IFC investment supports the issuance of a 5-year, US$150 million sustainability-linked bond (SLB) on the Georgia Stock Exchange (GSE) by Georgia Capital JSC (GCap), with an own-account subscription of up to US$30 million as an anchor investor (the Project).  GCap is an investment holding company focusing on buying, building and developing businesses in Georgia. Its portfolio is diversified across key sectors in Georgia, including banking, pharmaceuticals, healthcare, insurance, utilities, hospitality, education, and renewable energy. The most significant expected project-level outcome is an increase in access to quality healthcare services and products as well as further improvement in reducing greenhouse gas (GHG) emissions in Georgia. The Project will help supporting Georgia Capital in facilitating the growth of its portfolio companies, particularly in the areas of pharmacy retail, clinics and diagnostics businesses. The Project will also contribute to reducing GHG emissions in Georgia, by further implementing energy efficient measures by Georgia Capital and its portfolio companies. Beyond the project, IFC anticipates that this investment will deepen the financial integration of corporates into capital markets, including the adoption of sustainability practices, through the demonstration effect channel. IFCs investment will support the largest sustainability-linked bond issuance listed in Georgia and the Caucasus, paving the way for future such issuances in the region.
Tetri Qudi Project The Project consists of providing up to US $1.5 million A Loan to Tetri Qudi LLC (Tetri Qudi or the Company).  Tetri Qudi is the leading Georgian producer of fresh mushroom. The Company was established in 2010 and currently produces two types of mushroom: Champignon (Agaricus) and Oyster (Pleurotus).  The proposed investment entails providing a corporate loan to Tetri Qudi, to be utilized for financing of the Companys capital expenditures in 2013 and for additional working capital requirements to support the Companys growth. The proposed Project has significant development impact including the following: - Supporting development of agribusiness sector: The Project will expand the Company`s operations in agribusiness, improve its competitiveness, and will support import substitution of mushroom products in Georgia. - Job creation: Direct and indirect job creation and preservation outside Tbilisi, the capital of Georgia, where the job opportunities are scarce. - Food Security: The Project will support food security in an IDA country. - Increased tax payments: Generating additional amount of taxes to be paid to the State. - Supply chain linkages: Growth of the Company will require increased level of economic activity with farmers, distributors and retailers.
Kvarlis Baga Established in 2011, Kvarlis Baga Ltd (the Company) is one of the largest Georgian dairy farms. The Proposed IFC loan will be will be utilized for: (i) to increase dairy farms existing capacity from 116 milking cows to 350 milking cow; and (ii) working capital requirement (collectively the Project). The proposed Project has significant development impact including the following: - direct and indirect job creation and preservation in regions where job opportunities are scarce; - supporting food security in an IDA country; - increased tax payments (generating additional amount of taxes to be paid to the State).
BR SME Project The proposed transaction would consist of up to US$30 million senior loan to Bank Republic (The Bank), a Georgian subsidiary of Société Générale, France (SG) aimed at improving access to finance to Georgian SMEs. A senior loan has a proposed tenor of up to 5 years, with 1 year grace period. The project will provide term financing for the Bank to expand its lending to SME segment The Project is expected to support the SME business in Georgia through providing much needed long-term financing. The financing, combined with Bank Republic''s well-known local brand, its strong distribution channels, local expertise, and high-quality management, will help Bank Republic broaden access of Georgian SME to high quality banking services and wider range of products. This Project would help to create employment, increase wealth and alleviate poverty in Georgia. Also, the project would create a demonstration impact for the entire banking sector to follow best practices in risk management, product development and regional reach.
GRPO Green Bond Georgia Renewable Power Operations JSC (GRPO, the Issuer), a renewable energy affiliate of Georgia Capital PLC (GCAP, the Sponsor), being established following GCAPs strategic decision to separate and demerge its renewable energy business from Georgia Global Utilities JSC (GGU) and consolidate operational renewable energy assets, including four hydropower and one wind power plant of total 71 MW installed capacity, under GRPO. The Project raises financing through a green bond issuance to refinance existing liabilities which were used for redeeming a portion of the US$250 million Eurobond issued in 2020 by GGU. The Project will help GCAP to support GRPOs core business and new renewable energy investments. The debt refinancing supported by the Project unlocks risk capital from the Sponsor to develop renewable energy projects. The main expected project-level outcomes are the positive environmental effects derived from increasing renewable energy capacity in Georgia and facilitate renewable energy supply to meet growing demand in Georgia. At a market level, the investment increases financial integration of Georgias infrastructure corporates to capital markets and contributes to develop domestic capital market through demonstration effects.
FINCA GEORGIA IFC proposes to issue a senior loan, with a maturity of 4 years,  up to US$7 million denominated in GEL or in US$ to be committed in two tranches.   IFC also proposes to enter into a cross-currency swap with a notional amount of up to US$5 million to allow FINCA Georgia to swap part of its foreign currency denominated borrowings into GEL. - Increasing access to funding for underserved MSEs in poor and rural areas, - Creating a demonstration effect for other MFIs to diversify and to increase their LCY funding volumes and to manage their asset-liability positions better, - Contributing to economic growth and poverty reduction by helping to creat jobs.
Aversi Pharma table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; }          Aversi Pharma Ltd (Aversi or the Company) is the leading pharmaceutical wholesaler, retailer and healthcare service provider in Georgia. Aversi includes chains pharmacy stores operating under the Aversi brand name and chain of the hospitals operating under the different brands. Aversi also owns small-scale insurance company Alfa Ltd.           The proposed investment is a corporate loan of EUR 13 million to Aversi with 6-year tenor. The corporate loan will support the Companys investment program over the next two years, which mainly includes the expansion of Aversis healthcare facilities. - Increased access to quality and affordable healthcare services, especially in underserved regions of Georgia: Georgian consumers will benefit from having access to an extended network of health centers with high quality medical services at affordable prices.
- Employment generation and preservation: The Company is one of the largest employers in the country with around 6,700 full time employees, around 70% of which are women. 
-Increased tax payments: Generating additional amount of taxes to be paid to the State;
JSC m2 Real Estate II (Ramada& AfH) The Project consists of providing a corporate loan facility for the development of low to middle income housing (AfH) projects and a project finance for the development of a 152 room Ramada Encore hotel investment (together the Projects), in Georgia sponsored by JSC m2 Real Estate (M2RE, the Sponsor), directly and indirectly 100% owned by Bank of Georgia Holdings Plc (BoG). (i) Business Infrastructure Development: The Hotel Project will help alleviate the lack of modern business infrastructure, especially in the mid-market segment in Georgia by bringing the first 3 star branded international hotel to the country; (ii) Continue increasing supply of green, affordable and quality housing and a hotel: M2RE has helped pioneer the establishment of sustainable real estate development in Georgia with the first affordable housing project IFC financed in 2013.  (iii)Job Creation: The Hotel Project will create additional direct and indirect employment during construction and operational phases. Affordable housing project will create additional indirect employment during the construction phases. (iv) Enhanced Upstream and Downstream Local Supply Linkages with MSMEs: The Hotel Project will contribute to the development of the local economy by facilitating linkages with MSME vendors that will serve the needs of both the hotel and their guests. The AfH project will increase the demand for construction and building material.  (v) Increased Tax Revenue: Both Projects will increase tax revenues for the country, states, and local municipalities;  (vi) Community development: The housing developments will contribute to the renovation and expansion of urban infrastructure and surrounding community development, including the construction and rehabilitation of roads, electricity, water access and sanitation serving the developments. (vii) Demonstration effect: Affordable housing project will have the strong demonstration effect by fostering competition in the housing sector in Georgia and restoring credibility. In addition, the project with its standard for green buildings is helping raise the level of awareness of the economic benefits of green building, therefore increasing demand and inducing other developers to follow suit.
The Ksani II In 1999 Sisecam Sanayi A.S. (Sisecam) acquired a 76% interest in JSC Ksani Mina (Ksani), leading manufacturer of glass containers for food and beverages, as part of the Georgian Government''s privatization program. With the financial support of IFC and EBRD, Ksani undertook an expansion and modernization program to take advantage of the growing regional demand.   The current expansion program in 2014 is expected to cost US$25 million and will be used to support: (i) installation of a new furnace to increase capacity from 30 thousand tonnes/year (tpa) of glass, to 60 thousand tpa; (ii) improvements in energy and resource efficiency; (iii) improvements in Ksanis operational efficiency through renovation and equipment upgrades; and (iv) long-term working capital financing. IFC''s investment in Georgia continues to be a large employer and a successful example of privatization and foreign direct investment in Georgia
Bank of Georgia SME Loan The Project consists of an investment up to GEL 200 million (not exceeding US$ 100 million equivalent) in Joint Stock Company Bank of Georgia (the Bank). The purpose of the proposed IFC investment is to support and expand the Banks lending program to small and medium enterprises (SMEs) in Georgia and at least 25 percent of proceeds will support the Banks lending operations to women-owned businesses. The Project would support one of the leading private banks having a good geographical coverage in SME segment. The proceeds will be used for financing SMEs and women-owned SMEs, supporting their access to long term local currency funding. IFC's funding would help Bank of Georgia in responding to its clients' long-term funding needs while matching maturities more effectively. The Project would strengthen IFC's role of increasing access to finance for women by partnering with a financially sustainable bank by supporting it in areas of strategic interest such as banking on women.
Adjaristsqali Georgia LLC The Project involves the construction and operation of the 184 MW Shuakhevi hydropower project (the Project), consisting of 2 HPP schemes: the 178 MW Shuakhevi HPP and the 6 MW Skhalta HPP by Adjaristsqali Georgia Limited (AGL). It is part of the Adjaristsqali cascade of 4 run-of-river HPPs with a total installed capacity of ~400 MW: 178 MW Shuakhevi HPP, 6 MW Skhalta HPP, 150 MW Koromkheti HPP and 65 MW Khertvisi HPP. The Project will export to Turkey through the 400 kv Akhalskhe-Borcka transmission line (the AB line) and sell domestically in Georgia for the 3 winter months (for the first 10 years of operations).  Adjaristsqali Georgia LLC was founded by Clean Energy Invest in 2011. The company is a Georgian special purpose company set up to develop the Adjaristsqali Cascade Project. Today, the owners are; Clean Energy Invest of Norway, Tata Power of India and IFC, via a Dutch holding company called Adjaristsqali Netherlands BV. AGL is assisted in its operation by a very competent team of professionals. The Project has an estimated net generation output of 451 GWh on average per year (as per IFC engineer), corresponding to 4.8% of total annual generation in Georgia and is expected to be operational by July 2016. 1. Increase Georgia''s RE output, serving both the local market and Turkey. The project will provide 61 GWh power to Georgia for the first 10 years of operations while the 372 GWh will  be exported to Turkey. 2. Reduced GHG emissions of 222,379 tons p.a for 45 years of operations 3. Influence Georgia''s ability to attract foreign investments in the hydro sector and help position Georgia as a emerging market destination for hydro investments 4. Contribute to private sector investments in Georgia and attract investors and support South- South investment
Georgia Microfinance Bank Summary Of Project Information (SPI)       Project Name    Georgia:  Georgia Microenterprise Bank              Region    Europe        Sector       Project No008465   Projected Board DateJune 15, 1998   Company NameGeorgia Microenterprise Bank   Technical Partner and/or Major Shareholders    	Shareholders: IFC, Kreditanstalt fur Wiederaufbau (KFW), the Netherlands Development Finance Company (FMO), four Georgian banks (TBC, Tbilcredit, Tbilcom and Intellectbank) and a technical partner (which is still to be selected, but is expected to be a company with considerable experience in managing microfinance institutions).    Project Cost Including proposed IFC investment    	US$16 million; proposed IFC equity investment of US$0.8 million and a credit line of up to US$5 million.    Location of project and Description of site    	Tbilisi, Georgia    Description of Company and Purpose of Project    	The project involves introducing micro-lending techniques to Georgia, through the creation of a specialized financial institution, the Georgia Microenterprise Bank (GMB).  GMB will lend to micro and small enterprises, a sector which is not currently being served by Georgia''s nascent banking sector.  GMB is expected to provide loans for working capital and for equipment acquisition.  The loans will have relatively short maturities and will be for amounts of up to US$35,000, with an expected average of US$10-15,000.    Environmental Category and Issues    	This is an environmental review category FI project.  GMB will be required to apply IFC''s microlending screen to all loan applications and require that each sub-project comply with applicable host country environmental, health and safety requirements.        Date SPI sent to PIC     April 27, 1998      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384