IFC Invests $150 Million in TBC Bank to Boost SME and Climate Financing in Georgia

IFC is investing $150 million in TBC Bank, Georgia's largest bank, to boost access to finance for its small and medium enterprise (SME) portfolio and bolster the country's climate finance market.

According to the 2023 World Bank Group's Enterprise Surveys, access to finance remains one of the major obstacles for smaller businesses in Georgia. IFC's support to TBC Bank aims to address that challenge, with all of the funding targeted to the bank's SME clients and half earmarked for renewable energy and energy-efficient SMEs. This could help avoid up to 30,000 tons of CO2 equivalent per year by 2028.

IFC's financing is expected to help TBC Bank further grow its SME and climate finance portfolios. In addition, the project will help strengthen Georgia's climate finance market by promoting best practices in sustainable lending.