Complex Approach

Complex projects can be financed with one or several loans with a cumulative value of up to EUR 3 million per company. The investment projects should improve the competitiveness of the company in any market and achieve compliance with one or more of the EU Directives in the field of environmental protection, energy efficiency, workers’ safety, product quality and safety. Upon successful completion, complex loans receive a grant cash-back of up to 15%.

Complex loans are for businesses in any sector (industry, transport, services etc.), and especially those seeking to:

Compete with more established, better technologically equipped and more skilled competitors
Meet more demanding EU product standards
Meet Health and Safety standards for their workers as EU standards are progressively introduced in their own legislation
Implement more energy efficient and less polluting manufacturing plants & equipment and adopt production practices that comply with EU and international environmental legislation

Grant Incentive

Typical complex investments

Procurement of new machines, production equipment, production lines
Procurement of new boilers, cooling systems, heat pumps
Refurbishment and construction of production buildings
Integrated refurbishment and construction of production lines and buildings.
Refurbishment and construction of storage facilities, cold rooms, warehouses including internal means of transport
Procurement of machines for packaging

Trucks and trailers
Earth moving equipment
Grain storage systems, mills, animal feed plants
Animal breeding facilities (cows, poultry, hens, etc.)
Aspiration and dust-abatement systems
Waste water treatment plants
Air emission abatement plants.

Application Procedure

Step 1

The applicant fills out an CP Application Form , which will be checked by the Project Consultant for eligibility.

Step 2

Assuming the applicant also meets with the Banks’ usual credit worthiness criteria for such a loan, the applicant is requested to sign a letter of engagement.

Step 3

The Project Consultant will help the applicant prepare an Investment Plan (IP). This takes ca 15-20 from the time when the consultant receives all requested information from the applicant.

Step 4

Once this is received the PartnerBank finalises the loan agreement with the applicant including conditions/recommendations and loan terms;

Step 5

The applicant implements the project and sends the filled in CVR Check list to Project Consultant who forwards it with the Investment plan to the Verification consultant;

Step 6

The verification Consultant carries out an onsite check to make sure the project complies with the agree parameters.

Step 7

The verification Consultant carries out an onsite check to make sure the project complies with the agree parameters

Eligibility Criteria

Application Forms

CP Application Form

Project related criteria:

Meets one or more relevant EU Directives in the field of environmental protection, workers’ safety and product quality and safety, as listed in the Priority EU Directives, or
An EU Directive(other than a Priority EU Directive) which the Project Consultant has confirmed the Sub-borrower should comply with
The project should not benefit from another EU grant
The project should be outlined in an acceptable Investment Plan prepared by the SME, with support from the project consultant
Individual SMEs are eligible for total aggregate loans of up to EUR 3 million (for complex projects)
The loan amount shall not exceed 100% of the investment cost of the relevant project (VAT Excluded)
Only expenditures incurred after the date of the Agreement between the company and the Partner Financing Institution will be considered as eligible investment and are eligible for a 15% grant incentive
Each project which the Verification Consultant has validated as having been successfully implemented or completed is eligible to receive an Investment Incentive payment of an amount equal to 15% of the financed amount

Company related eligibility requirements:

Eligible are all SMEs as per EU definition (fewer than 250 employees and a turnover of less than €50 M or less than €43 M of total Balance sheet, not more than 25% by shareholders that exceed the SME criteria), individual entrepreneurs and sole proprietors (a micro, small and medium size enterprise as such term is defined in the European Commission Recommendation of 6 May 2003 (EU recommendation 2003/361) concerning the definition of micro, small and medium-sized enterprises (http://ec.europa.eu/growth/smes/business-friendly-environment/sme-definition_en and http://ec.europa.eu/DocsRoom/documents/15582/attachments/1/translations)
The business must be registered in Georgia, operating primarily in Georgia, and operating in accordance with the laws of Georgia
At least 51% privately owned and privately run
Applicants must meet the Partner Financing Institutions’ usual financing appraisal criteria
The applicant must comply with the EBRD’s full exclusion list