Senior loan of US$ 2 million equivalent to be used for on-lending to women-led MSMEs
The project aims to promote women's entrepreneurship and participation in business by improving their access to finance and advice through dedicated credit lines and tailored technical assistance programmes.
ETI score: 70
The project will help the bank develop and launch tailored sustainable credit mechanisms targeted at women-led MSMEs and will contribute to women's economic inclusion by supporting women-led MSMEs' access to finance and providing business advisory and skills development services.
The project supports competitiveness of women entrepreneurs in Uzbekistan by facilitating their access to financing and also contributes to competitiveness of Davr Bank by assisting it in expansion of product portfolio.
DAVR BANK PJSC
Davr Bank is a privately-owned bank focused on MSME and retail segments. As of end 2019, it ranked 19th by assets and 18th by loan portfolio with market shares of 0.5 per cent and 0.4per cent, respectively.
EBRD Finance Summary
Total Project Cost
Financing Structure: the EBRD will provide medium-term funding which remains scarce to the sector.
Standard-setting: helping projects and clients achieve higher standards: Davr Bank will benefit from the EBRD expertise on higher financial standards and gender standards. For the WiB Loan, compliance with policy statements, ESD requirements and financial covenants will ensure use of loan proceeds, adherence to the best ES practices and financial risk management. Proceeds of the WiB Loan will be used for on-lending to women-led MSMEs in accordance with the relevant policy statement, hence promoting economic inclusion of female entrepreneurs.
Knowledge, innovation, and capacity building: the EBRD provides expertise, innovation, knowledge and/or capabilities that are material to the timely realisation of the project's objectives. The WiB Loan will be accompanied by TC component which will help the bank develop financial products and lending practices that meet the specific needs of Women MSMEs and support implementation of the Programme including through training of staff and marketing support. Davr Bank will benefit from EBRD's experience in Advice for Small Businesses activities aimed at providing access to advice to WiB segment.
Environmental and Social Summary
Categorised FI (ESP 2014). Davr Bank is an existing client with a previous MSME line. Environmental and Social Due Diligence (ESDD) was carried out on Davr Bank as part of this previous transaction in 2018 and based on a review of the most recent monitoring report is in compliance with PRs 2, 4 and 9. Davr Bank will be required to continue to comply with the EBRD's Environmental and Social Risk Management Procedures for SME and Micro Loans, as well as the applicable PRs, and submit annual environmental and social reports to the Bank.
Technical Cooperation and Grant Financing
TC: estimated US$ 300,000 in support of Davr Bank (average TC amount per PFI under the Programme) out of total US$ 5m provided by the Women Entrepreneurs Financing Initiative, a Trust Fund managed by the World Bank, for project consultant to support PFIs in developing and promoting women focused products under the EBRD Central Asian WiB Programme. The TC programme will help Davr Bank develop financial products and lending practices that meet the specific needs of Women-led MSMEs. In parallel, Advise for Small Businesses (ASB) component will facilitate increased access to know-how and non-financial development services for women-led MSMEs.
Company Contact Information
Block A, Navoi - Zarkaynar Street. Tashkent, 100021 The Republic of Uzbekistan
PSD last updated
18 Mar 2020
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Independent Project Accountability Mechanism (IPAM)
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