<div><h2>Project Description</h2><p></p><p>An investment of USD 60 million in USD 300 million Basel III compliant Perpetual Subordinated Callable Additional Tier 1 Capital Note issuance by JSC TBC Bank ('TBC'). Notes will be listed on Euronext Dublin (Global Exchange Market) with expected issue rating of B2 by Moody's. </p><p></p><h2>Project Objectives</h2><p></p><p>The proposed investment in AT1 Capital Notes supports the resilience of a systemic financial institution in Georgia by (i) strengthening its capital position to maintain prudent capital buffers, (ii) insulating the bank's capital base against the currency depreciation, and (iii) enabling uninterrupted lending to the real economy. </p><p></p><h2>Transition Impact</h2><p>ETI score: 66</p><p style="margin-top: -13px;"></p><p>The expected transition impact stems from Resilient and Competitive transition qualities. The investment in AT1 Capital Notes will strengthen the systemic bank's Tier 1 capital, optimise capital structure and diversify capital currency composition while providing additional capacity for future growth for continued lending to the real economy.</p><p></p><h2>Client Information</h2><p>TBC BANK JSC</p><p style="margin-top: -13px;"></p><p>TBC Bank ('TBC') is a leading universal bank in Georgia. It offers a full range of financial products and services to the retail, corporate and MSME clients through the wide distribution network of 135 branches and digital channels. TBC's credit rating is BB/Stable by Fitch, Ba2/Stable by Moody's.</p><p></p><h2>EBRD Finance Summary</h2><p>										USD 60,000,000.00									</p><p style="margin-top: -13px;"></p><p>EBRD finance is 20% of the total issuance at USD 60 million. </p><p></p><h2>Total Project Cost</h2><p>										USD 300,000,000.00									</p><p style="margin-top: -13px;"></p><p>Total issuance size is USD 300 million. </p><p></p><h2>Additionality</h2><p></p><p>EBRD financing is expected to effectively 'close the funding gap' and support successful book-building process for TBC's benchmark AT1 issuance as the bank returns to the international capital markets since 2021. The project is also Gender additional as TBC will participate in the national roll-out of the WE Finance Code in Georgia. </p><p></p><h2>Environmental and Social Summary</h2><p></p><p>Categorised FI (ESP 2019). TBC bank is a long-standing client of the EBRD and compliance with, and reporting on, the Bank requirements have been good in the context of the existing and previous projects.</p><p></p><h2>Technical Cooperation and Grant Financing</h2><p></p><p>None</p><p></p><h2>Company Contact Information</h2><p>Ketevan Bitskinashvili<br/>TBC-IFM@tbcbank.com.ge<br/>+(995 32) 227 27 27<br/>https://tbcbankgroup.com/<br/>7 Marjanishvili St. Tbilisi, Georgia 0102<br/></p><h2>PSD last updated</h2><p>26 Apr 2024</p><div id="docsLinks" style="display:none"><h2>Related material</h2><ul class="relMat"></ul></div><script type="text/javascript">						var projFinderService = '/project-finder-json?1=1';						var projectId = "55247";					</script><h2>	Understanding Transition</h2><p>	Further information regarding the EBRD’s approach to measuring transition impact is available <a href="https://www.ebrd.com/what-we-do/economic-research-and-data/transition-impact.html">here</a>.</p><h2>	Business opportunities</h2><p>	For business opportunities or procurement, contact the client company.</p><p>	For business opportunities with EBRD (not related to procurement) contact:</p><p>	Tel: +44 20 7338 7168<br/>	Email: <a href="mailto:projectenquiries@ebrd.com">projectenquiries@ebrd.com</a></p><p>	For state-sector projects, visit <a href="https://www.ebrd.com/pages/workingwithus/procurement.shtml">EBRD Procurement</a>:<br/><br/>	Tel: +44 20 7338 6794<br/>	Email: <a href="mailto:procurement@ebrd.com">procurement@ebrd.com</a></p><h2>	General enquiries</h2><p>	Specific enquiries can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Environmental and Social Policy (ESP)</h2><p>	The <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a> and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.</p><p>	More information on the EBRD’s practices in this regard is set out in the <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">ESP</a>.</p><h2>	Integrity and Compliance</h2><p>	The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.</p><p>	OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to <a href="mailto:compliance@ebrd.com">compliance@ebrd.com</a>. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.</p><h2>	Access to Information Policy (AIP)</h2><p>	The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/public-information-policy.html">Access to Information Policy</a> page to find out what information is available from the EBRD website.</p><p>	Specific requests for information can be made using the <a href="https://www.ebrd.com/eform/information-request">EBRD Enquiries form</a>.</p><h2>	Independent Project Accountability Mechanism (IPAM)</h2><p>	If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).</p><p>	IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its <a href="https://www.ebrd.com/news/publications/policies/environmental-and-social-policy-esp.html">Environmental and Social Policy</a> or Project-specific provisions of its <a href="https://www.ebrd.com/what-we-do/strategies-and-policies/access-to-information-policy.html">Access to Information Policy</a>; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.</p><p>	Please visit the <a href="https://www.ebrd.com/project-finance/independent-project-accountability-mechanism.html">Independent Project Accountability Mechanism webpage</a> to find out more about IPAM and its mandate; how to <a href="https://www.ebrd.com/eform/IPAM/Request_form">submit a Request</a> for review; or contact IPAM  via email <a href="mailto:ipam@ebrd.com">ipam@ebrd.com</a> to get guidance and more information on IPAM and how to submit a request.</p><p>	 </p></div>

TBC - AT1 Capital Notes

An investment of USD 60 million in USD 300 million Basel III compliant Perpetual Subordinated Callable Additional Tier 1 Capital Note issuance by JSC TBC Bank 'TBC'. Notes will be listed on Euronext Dublin Global Exchange Market with expected issue rating of B2 by Moody's. The proposed investment in AT1 Capital Notes supports the resilience of a systemic financial institution in Georgia by i strengthening its capital position to maintain prudent capital buffers, ii insulating the bank's capital base against the currency depreciation, and iii enabling uninterrupted lending to the real economy. ETI score: 66The expected transition impact stems from Resilient and Competitive transition qualities. The investment in AT1 Capital Notes will strengthen the systemic bank's Tier 1 capital, optimise capital structure and diversify capital currency composition while providing additional capacity for future growth for continued lending to the real economy.TBC BANK JSCTBC Bank 'TBC' is a leading universal bank in Georgia. It offers a full range of financial products and services to the retail, corporate and MSME clients through the wide distribution network of 135 branches and digital channels. TBC's credit rating is BBStable by Fitch, Ba2Stable by Moody's.USD 60,000,000.00EBRD finance is 20 of the total issuance at USD 60 million. USD 300,000,000.00Total issuance size is USD 300 million. EBRD financing is expected to effectively 'close the funding gap' and support successful book-building process for TBC's benchmark AT1 issuance as the bank returns to the international capital markets since 2021. The project is also Gender additional as TBC will participate in the national roll-out of the WE Finance Code in Georgia. Categorised FI ESP 2019. TBC bank is a long-standing client of the EBRD and compliance with, and reporting on, the Bank requirements have been good in the context of the existing and previous projects.NoneKetevan BitskinashviliTBC-IFMtbcbank.com.ge+995 32 227 27 27https:tbcbankgroup.com7 Marjanishvili St. Tbilisi, Georgia 010226 Apr 2024Further information regarding the EBRD's approach to measuring transition impact is available here.For business opportunities or procurement, contact the client company.For business opportunities with EBRD not related to procurement contact:Tel: +44 20 7338 7168Email: projectenquiriesebrd.comFor state-sector projects, visit EBRD Procurement:Tel: +44 20 7338 6794Email: procurementebrd.comSpecific enquiries can be made using the EBRD Enquiries form.The ESP and the associated Performance Requirements PRs set out the ways in which the EBRD implements its commitment to promoting "environmentally sound and sustainable development".  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders' concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project's environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.More information on the EBRD's practices in this regard is set out in the ESP.The EBRD's Office of the Chief Compliance Officer OCCO promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to complianceebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.Specific requests for information can be made using the EBRD Enquiries form.If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful e.g. through the Client's Project-level grievance mechanism or through direct engagement with Bank management, individuals and organisations may seek to address their concerns through the EBRD's Independent Project Accountability Mechanism IPAM.IPAM independently reviews Project issues that are believed to have caused or to be likely to cause harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipamebrd.com to get guidance and more information on IPAM and how to submit a request.

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