RF - Davr Bank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

26 May 2020



PSD disclosed:

02 Nov 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

The provision of a senior loan of US$ 3 million equivalent to be used for on-lending to micro, small and medium-sized enterprises ("MSMEs") in Uzbekistan. 

This project was approved in the context of the Bank's response to the Covid-19 pandemic. PSD disclosure rules for the EBRD's Covid-19 response projects are changed to streamline their delivery. Details of the Bank's response and the explanation of waived disclosures can be found on our website in the AIP Section V.

Project Objectives

The proceeds of the loan will help Davr Bank continue lending to eligible MSMEs in Uzbekistan by providing liquidity in the time of crisis due to the Covid-19 pandemic.

Transition Impact

ETI score: 80

The project will contribute to ensure resilience and preserve competition in the financial sector of Uzbekistan. The facility will help Davr Bank to maintain the full level of its operations, remain an effective market player during the Covid-19 pandemic (resilient) and will enable Davr Bank to continue commercial lending in line with comparable banking sector participants (competitive).

Client Information


DAVR Bank is a privately-owned bank focused on MSME and retail segments. As of end of 2019, DAVR Bank ranked 19th by assets and 18th by loan portfolio with market shares of 0.5 per cent and 0.4 per cent, respectively.

EBRD Finance Summary

USD 3,000,000.00

Total Project Cost

USD 3,000,000.00


The EBRD financing effectively bridges a liquidity gap due to adverse market conditions caused by the impact of the Covid-19 pandemic and will allow Davr Bank to continue lending to eligible MSMEs in Uzbekistan.

Environmental and Social Summary

Categorised FI (ESP 2014). Davr Bank is an existing client and will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9 and further comply with the EBRD's Environmental and Social Risk Management Procedures for SME and Micro Loans and submit annual environmental and social reports to the Bank. The funding will be used for short-term financing to MSMEs in Uzbekistan facing liquidity challenges due to the COVID-19 crisis, for which the overall environmental and social risk exposure is generally considered low to medium. Davr Bank's Environmental and Social Management System is adequate for this type of investments.

Technical Cooperation and Grant Financing


Company Contact Information

General Enquiries
Block A, Navoi - Zarkaynar Street. Tashkent, 100021 The Republic of Uzbekistan

PSD last updated

02 Nov 2020

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 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 the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both 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. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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 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 following its entry into force on 1 January 2020. 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 (e.g. 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 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; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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