The provision of a senior loan of up to US$ 5.0 million equivalent in local currency to Closed Joint-Stock Company Kompanion Bank based in the Kyrgyz Republic.
The project contributes to the objectives of the Financial Intermediaries Framework (FIF). FIF seeks to (i) foster SME competitiveness by increasing the availability of financing and (ii) contributing to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to MSME lending.
ETI score: 60
The project will contribute to the competitive and resilient Transition Impact qualities. The project will support Kompanion Bank's lending to private MSMEs in Kyrgyzstan by a multiple of the EBRD's funding with the focus on regional outreach and attraction of new MSME clients, while maintaining sound underwriting standards.
KOMPANION BANK CJSC
Kompanion Bank is a major SME lender in the Kyrgyz Republic. It is ranked 10th by total assets with a market share of 4 per cent. The bank is majority-owned by Mercy Corps (USA).
EBRD Finance Summary
US$ 5.0 million equivalent.
Total Project Cost
Additionality will be achieved through a combination of: (i) much-needed medium-term financing in local currency; and (ii) risk mitigation.
Environmental and Social Summary
Category FI (2019 ESP). Kompanion Bank is a long-standing client of the Bank that has been performing well in terms of applying the Bank's PRs and reporting in a timely fashion, the most recent reporting occurring in May 2021. The client will continue to apply PRs 2 and 4 to their internal operations and PR9, coupled with the E&S Procedure for Corporate SME and Micro Loans. As previous Projects have involved application of the 2014 policy, the client will require to take note of the Referral List in the 2019 policy and liaise with EBRD in any transactions involving activities on that list, and also take note of the updated E&S Exclusion List.
Technical Cooperation and Grant Financing
Company Contact Information
62, Shota Rustaveli St.,720044, Bishkek, Kyrgyzstan
PSD last updated
11 Nov 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
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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.
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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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.