A senior loan of up to US$ 5 million equivalent in the local currency ("MSME loan") in favour of the Joint Stock Commercial Bank "DAVR-BANK" to support private micro, small and medium-sized enterprises ("MSMEs") in Uzbekistan. The loan will be accompanied by Technical Cooperation ("TC") funds.
The MSME loan will allow DAVR-BANK to diversify its funding base and expand lending to private MSMEs with a focus on attracting new clients and reaching borrowers located outside the capital city of Tashkent.
This project will continue the EBRD's re-engagement path in the country building new relationships with the financially sound banks servicing MSMEs. The MSME loan will foster competitiveness by supporting DAVR-BANK to grow its loan portfolio to private MSMEs. Structuring the loan in the local currency as well as requirements to comply with financial covenants and maintain good portfolio quality will contribute to resilience of the institution.
DAVR BANK PJSC
DAVR-BANK is a privately-owned financial institution established in 2001. The bank provides a wide range of financial services to legal and retail customers and operates through seven branches and five mini-banks.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014). DAVR-BANK will be required to comply with the EBRD's Performance Requirements (PR) 2 (Labour and Working conditions) and 4 (Occupational Health and Safety).
DAVR-BANK will also be required to comply with PR 9 which includes implementing the EBRD's Environmental and Social Procedures for SME and Micro loans, adherence to the EBRD's Environmental and Social Exclusion list which includes prohibiting the financing of activities connected to both the cotton sector and the textile industry. DAVR-BANK staff dealing with the EBRD's funds will be required to undertake the EBRD's E&S E-learning for FIs on-line training.
All MSME loans in relation to the EBRD funds will be in compliance with national environment, social, health and safety and labour laws and regulations. DAVR-BANK will be required to submit Annual E&S Reports to the EBRD via the Sustainability Index.
The EBRD funding will be supported by TC funds under the "Uzbekistan: Financial Intermediaries Capacity Building TC Programme." The Company will also benefit from TC measures under the "Regional Small Business Programme for Central Asia - TC Programme".
Company Contact Information
+ 998 71 207-09-09
Block A, Navoi-Zarqaynar Street, Shaykhontakhur District, Tashkent, Uzbekistan, 100021
For business opportunities or procurement, contact the client company.
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