BAKU, Azerbaijan, September 18. The International Finance Corporation (IFC) is anchoring a 350 million Georgian lari (approximately $130 million) social bond issuance by Georgia Healthcare Group (GHG), the country’s largest healthcare services provider, through a subscription of 40 million Georgian lari, Trend reports via the IFC.
The bond aims to expand access to healthcare, with a focus on high-quality oncology care.
This landmark issuance is the first social bond in the healthcare sector in the Caucasus and represents the largest corporate social bond in the region, as well as the largest local-currency domestic corporate bond in Georgia. It is issued under GHG’s Social Bond Framework, aligned with the Social Bond Principles of the International Capital Market Association (ICMA).
The funds raised will support projects that broaden access to preventive and outpatient healthcare services, particularly in rural areas, and increase outpatient visits. The bond is denominated in local currency with a five-year maturity, contributing to the development of Georgia’s domestic bond market and demonstrating the potential of social bonds to raise long-term funds locally.
By improving healthcare access, the project also promotes human development and job creation, helping boost labor-force participation and income opportunities. In Georgia, the private sector controls 86 percent of hospital beds and dominates outpatient and diagnostic services.
IFC’s involvement is part of the World Bank Group’s broader efforts to expand affordable, quality healthcare and develop Georgia’s capital markets. Since 1995, IFC has provided approximately $2.7 billion in long-term financing in Georgia, including nearly $1.2 billion mobilized from partners across 74 projects in financial services, agribusiness, manufacturing, and infrastructure, while also supporting over $433 million in trade through its trade finance program.