Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Georgia
Location: Tbilisi; Telavi
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-11-04
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Aversi-Pharma LTD
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Construction
  • Education and Health
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 14.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported 13 million Euro
Converted using 2016-11-04 exchange rate.
Project Cost (USD): $ 28.91 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported 26 million Euro
Converted using 2016-11-04 exchange rate.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-08
Disclosure Date: 2016-07-29
Aversi Pharma
IFC-37574

Project Description
This project finances the expansion of Aversi's healthcare services. This includes the purchasing of medical equipment, including oncology diagnostic and radiotherapy equipment, to be installed in the Eristavi Clinic and Aversi Clinic’s main hospital extension, which is currently under construction in Tbilisi. In addition, the project includes the construction of a new out-patient clinic in Telavi, located in the Khaketi region.
Investment Description
Contact Information
Contact Person: Irakli Ksovreli, CIO Company Name: Aversi-Pharma Ltd Address: Aghmashenebeli Ave. 148/2 Email: irakli.ksovreli@aversi.ge Phone: +995 577 30 34 34 ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/