FIF - CA WiB II - ICB Loan II (EFSD+1)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

The provision of a senior unsecured loan of up to US$ 5.0m (in TJS equivalent) to ICB under the Financial Intermediary Framework-Central Asian Women in Business II (CA WiB II ) programme for on-lending to women-led MSMEs.

Project ID 55702

Status Approved

Location

Tajikistan

Industry Sector

Financial Institutions

Notice Type

Private

Project timeline

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

Company Contact Information

Sergey Sharipov
sergey.sharipov@icb.tj
+992 37 227-91-70
+992 37 227-91-70
https://www.icb.tj/EN
Closed Joint Stock Company Investment and Credit Bank of Tajikistan 10 Pushkin Street, Dushanbe, Republic of Tajikistan

Project ID 55702

Status Approved

Location

Tajikistan

Industry Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

17 Mar 2026

Disclosure date

23 Apr 2026

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

Project Objectives

The proposed loan is the third WiB loan to the client following the successful realisation of a first pilot under the Taj WiB programme and a first transaction under the CA WiB. The transaction represents a continuation of the previous engagements, aiming to further support women-led MSMEs in Tajikistan by providing financing opportunities for their business activities and access to know-how.

Transition Impact

ETI score: 70

The project is a sub-operation of the Central Asia Women in Business Programme II ("CA WiB" II). It contributes to the objectives of the Programme, supporting the Inclusive and Competitive transition impact qualities, with the ultimate goal of promoting female entrepreneurship and, more broadly, women's active participation in business, thus alleviating gender inclusion gaps in terms of "access to finance" and "employment and business". The proposed CA WiB II Loan II represents a continuation of previous engagements with the client under the TajWiB and CA WiB programmes.

Client Information

THE INVESTMENT AND CREDIT BANK TAJIKISTAN CJSC

Closed Joint Stock Company "Investment and Credit Bank of Tajikistan" (ICB)- formerly known as First MicroFinance Bank- operates as a fully-fledged universal commercial bank, offering a full range of banking services, primarily to retail and MSME segments in Tajikistan. ICB was the 12th largest bank by assets (with market share of ~2.4%) and the loan book (~3.5%) among Tajikistan banks as of YE2025.

EBRD Finance Summary

USD 5,000,000.00

Total Project Cost

USD 5,000,000.00

Additionality

Financing structure: The EBRD offers a tenor, which is above the market average and is necessary to structure the project. The EBRD offers local currency financing on terms not readily available in the market.

Standard-setting: Client seeks EBRD expertise on higher inclusion and gender standards and/or equal opportunities action plans.

Technical Cooperation and Grant Financing

The loan will be supported by (i) the first loss guarantee in favour of ICB funded by EU via the European Fund for Sustainable Development Plus (EFSD+) Programme, (ii) a result-based compensation element in favour of ICB funded by We-Fi, (iii) tailored capacity-building TC provided to ICB and funded by We-Fi/EFSD+/SSF and (iv) capacity building TC for WiB MSMEs delivered under Advice for Small Businesses (ASB) programme and funded by We-Fi/EU IFCA 3/SBIF SECO. The combined technical cooperation components will help ICB enhance its inclusive financing standards by improving awareness and understanding of the needs of underserved women entrepreneurs.

Company Contact Information

PSD Last Updated

23 Apr 2026

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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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FIF - CA WiB II - ICB Loan II (EFSD+1)

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)

FIF - CA WiB II - ICB Loan II (EFSD+1)

Overview

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Environmental and Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)