Uzbek Leasing International Capital Increase

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 10066

Status Complete

Location

Uzbekistan

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 10066

Status Complete

Location

Uzbekistan

Business Sector

Notice Type

Private

Environmental Category

Approval Date

04 Apr 2000

Disclosure date

29 Mar 2000

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

US$ 300,000 equity investment/capital increase and US$ 2 million loan for an existing leasing firm in Uzbekistan targeting private small and medium-sized enterprises (SMEs). The present financing follows on an investment approved by the Board in June 1995.

The aim of the project is to continue to support UL by providing key policy guidance through participation in the shareholders Assembly and Supervisory Board and to allow UL to expand its portfolio of SME leases for private enterprises in Uzbekistan.

Transition Impact

The project will: (i) address shortcomings in the environment for leasing to SMEs; (ii) strengthen the institutional capabilities and business practices of UL; (iii) support the development of a private sector financial institution, which offers alternative financial products for SMEs; and (iv) introduce financial discipline on lessees.

The Client

Uzbek Leasing International A.O., a private leasing company formed in 1995. The company’s shareholders are Malayan Banking Berhad (Maybank), National Bank for Foreign Economic Activity of Uzbekistan (NBU), International Finance Corporation and the EBRD, which will collectively provide an additional US$ 2 million of equity, on top of the US$ 4 million provided in 1995/96. All shareholders will then contribute to a term loan, of up to US$ 10 million, which will allow Uzbek Leasing (UL) to leverage its equity and expand leases to SMEs.

EBRD Finance

EBRD financing would consist of a US$ 300,000 (EUR 309,000) equity increase and a US$ 2 million (EUR 2.06 million) loan.

Project Cost

US$ 2 million of equity and up to US$ 10 million of debt.

Environmental Impact

UL is required to carry out environmental due diligence on its leasing transactions to assess any potential environmental issues associated with leases, such as compliance of leased assets with local/national environmental and health and safety regulations and product standards. Leased machinery/equipment may not be used in relation to activities listed in the Bank's Environmental Exclusion List or for purposes likely to lead to significant environmental degradation. Uzbek credit officers have been trained under a EBRD-funded TC programme and are applying the Bank’s environmental guidelines, including the Bank’s Environmental Exclusion List.

Technical Cooperation

None.

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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