Accreditation assessment of applicant 113 (APL113)

The Green Climate Fund (GCF) Accreditation Panel recommends the accreditation of Joint Stock Company TBC Bank (APL113), a leading Georgian banking group, for medium-sized projects with high environmental and social risk (Category I-1). While the bank fully meets basic fiduciary, environmental, and social standards, the panel identified gaps in its procurement oversight of executing entities, public information disclosure for on-lending operations, and a track record of gender assessments in climate projects. These gaps are addressed through specific conditions for accreditation.

• TBC Bank is recommended for accreditation for medium-sized projects (costs between USD 50 million and USD 250 million) and is approved for the maximum environmental and social risk category (Category I-1/High risk).
• The bank fully complies with GCF's basic fiduciary standards, including policies on prohibited practices, whistleblower protection, and anti-money laundering and countering the financing of terrorism (AML/CFT).
• The bank's Environmental and Social Risk Management System (ESMS) is found to fully meet GCF standards for high-risk projects, utilizing IFC Performance Standards (PS 1–8), EBRD Performance Requirements, and ADB Safeguards Requirements.
• TBC Bank has a demonstrated track record in financing renewable energy in Georgia, including GEL 462 million in exposure to renewable energy projects and specific loans for hydropower plants and energy-efficiency projects.
• The bank's gender policy and procedures are consistent with GCF requirements, but it lacks a track record of conducting gender assessments specifically within its projects and programmes.
• Accreditation is conditional upon the bank developing a formal policy for overseeing procurement procedures of executing entities and an information disclosure policy for GCF-funded on-lending and blending operations.

APA

Green Climate Fund (n.d.). Accreditation assessment of applicant 113 (APL113). https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a10.pdf

Chicago

Green Climate Fund. Accreditation assessment of applicant 113 (APL113). n.d. https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a10.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Accreditation assessment of applicant 113 (APL113) |url=https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a10.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefundndaccreditation, author = {{Green Climate Fund}}, title = {{Accreditation assessment of applicant 113 (APL113)}}, institution = {Green Climate Fund}, url = {https://www.greenclimate.fund/sites/default/files/decision/b29/decision-b29-05-a10.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }