Project description
and objectives:
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The EBRD is considering a loan to Uzbek Leasing International, a local leasing company. The company provides leasing finance to SME clients in the textile, construction, medical, food processing, transport and telecommunication sectors. Through provision of the proposed debt finance, the EBRD will further participate in the development of a leading private leasing company in Uzbekistan.
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Transition impact:
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A continued support by the Bank will provide Uzbek Leasing International not only with access to long-term funding but will also strengthen its development. The Bank’s investment will enable it to have better access to the leasing industry in order to better promote the market to foreign investors and to actively promote industry development both from a legislative and regulatory perspective.
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The client:
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Uzbek Leasing International was established in March 1996 by the National Bank of Uzbekistan (35%), Maybank (35%), IFC (15%) and the EBRD (15%) to conduct a leasing business in Uzbekistan with a focus on SME clients. Uzbek Leasing International is currently ranked number seven by volume of leasing transaction among 42 leasing intermediaries in Uzbekistan.
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EBRD finance:
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A loan of USD 3 million to support the growth of Uzbek Leasing International’s lease portfolio.
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Total project cost:
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USD 3 million.
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Environmental impact:
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Uzbek Leasing International shall comply with applicable Uzbekistan’s national environmental, health, safety and labour regulations and standards. Uzbek Leasing International will also be required to continue to implement the EBRD’s Environmental Procedures for leasing companies, which include adherence to the Bank’s Environmental Exclusion and Referral Lists, compliance with the Core Labour Conventions of the International Labour Organisation related to the child and forced labour and discriminatory practices at work and submission of the Annual Environmental report to the Bank.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Zafar Mustafaev
CEO
International Banking and Finance Centre
1, Turab Tula Str.
700003 Tashkent
Republic of Uzbekistan
Tel: (+998 71) 140-77-44
Fax (+998 71) 140-37-74
Email: uzlease@sarkor.uz
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EBRD contact:
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Hurshida Uzakova, Operation Leader: uzakovah@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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