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.
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.
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).
DAVR BANK PJSC
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
Total Project Cost
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
Block A, Navoi - Zarkaynar Street. Tashkent, 100021 The Republic of Uzbekistan
PSD last updated
02 Nov 2020
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More information on the EBRD’s practices in this regard is set out in the ESP.
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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).
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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.