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FIF - CA WiB Programme - Ipak Yuli Bank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

01 Nov 2022



PSD disclosed:

16 Nov 2022

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

A senior loan of USD 4 million equivalent in Uzbekistani soms to Ipak Yuli Bank to be used for on-lending to women-led MSMEs in Uzbekistan under the EBRD's Central Asia Women in Business Programme ("CA WiB"). 

The loan will be offered in the local currency in two equal tranches of USD 2m equivalent each. Tranche 1 will be committed upon signing the loan agreement; Tranche 2 will be uncommitted and may become available at the sole discretion of the EBRD. Each tranche will have a tenor of two years, and will be disbursed in the UZS equivalents of the USD amounts calculated at or around the time of the relevant disbursements.

Project Objectives

The project aims to promote women's entrepreneurship in Uzbekistan and their participation in business by improving their access to finance and advice through dedicated credit lines and tailored technical assistance programmes.

Transition Impact

ETI score: 70

The project will help the bank develop and launch tailored sustainable credit mechanisms targeted at women-led MSMEs in Uzbekistan and will contribute to women's economic inclusion by supporting women-led MSMEs' access to finance and providing business advisory and skills development services.

Client Information


Ipak Yuli Bank ("IYB") is a privately-owned bank in Uzbekistan with focus on MSME and retail segments. The bank demonstrates strong business dynamics and a leading pace of innovation/digitalisation on the market. IYB is ranked 3rd largest among 21 private banks (or 13th out of all 33 banks) by assets and loans, with market shares of 2% at 1H22.

EBRD Finance Summary

USD 4,000,000.00

Total Project Cost

USD 4,000,000.00


Additionality will be achieved through a combination of: (i) financing structure; and (ii) knowledge, innovation, and capacity building.

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

(ii) Knowledge, innovation, and capacity building. EBRD provides expertise, innovation, knowledge and/or capabilities that are critical to the timely realisation of the project's objectives, including support to strengthen the capacity of the client.

Environmental and Social Summary

Categorised FI (ESP 2019). Ipak Yuli Bank is an existing client will be required to continue to comply with EBRD's PRs 2, 4 and 9 and submit Annual E&S Reports to the Bank and implement the EBRD's E&S Procedures for Corporate, SME and Micro Lending.

Technical Cooperation and Grant Financing

Ipak Yuli Bank will benefit from a comprehensive Technical Cooperation ("TC") dedicated to support the WiB activities. The CA WiB TC Programme available for participating banks includes two linked components: (i) Tailored capacity-building for partner financial institutions and programme support of up to USD 8.0m; and (ii) Capacity-building for women-led MSMEs via the Advice for Small Businesses ("ASB") team of up to USD 5.0m.

The project involves First Loss Risk Cover ("FLRC") of up to 10% of a WiB loan (and limited to 70% of a single sub-loan) which translates to up to USD 400,000 for the operation.

The TC and FLRC are funded by the multi-donor Women Entrepreneurs Financing Initiative ("We-Fi"). 

Company Contact Information

Dilaziz Sultanov
+998 (78) 140-69-43
+998 (78) 140-69-05
2, Abdulla Qodiriy Street, Tashkent, Uzbekistan

PSD last updated

16 Nov 2022

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

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

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 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 to get guidance and more information on IPAM and how to submit a request.


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