The provision of a four-year senior loan of up to US$ 25 million to Joint Stock Commercial Bank UzPromStroyBank (UzPSB). The loan will be provided in two tranches of US$ 10 million and US$ 15 million, the second tranche will be uncommitted.The loan will be provided under the Green Economy Financing Facility (GEFF) in Uzbekistan. The proceeds of the loan will be on-lent to eligible Sub-borrowers implementing qualifying Sub-projects in line with the technical and financial eligibility criteria. The loan will be provided in either US$ or in the local currency.
The Loan will enable UzPSB to enhance its product range and provide term financing to private clients in the country for investments in climate change mitigation and adaptation technologies and services supporting Green Economy Transition.
ETI score: 60
The proposed Loan will contribute to the Green TI quality. The Facility will contribute towards building a green economy in Uzbekistan by facilitating the expansion of energy efficiency investments and providing positive demonstration effects of such projects, through on-lending to private sector Sub-borrowers (e.g. businesses, suppliers and vendors of high performing green technologies and service providers).
UZBEK INDUSTRIAL AND CONSTRUCTION BANK JSCB (UZPROMSTROYBANK)
UzPSB is the oldest bank in Uzbekistan, ranked second by assets (13 per cent of the market share). The bank is majority-owned by the state, primarily via the Uzbekistan Fund for reconstruction and Development and the Ministry of Finance.
EBRD Finance Summary
Total Project Cost
Additionality will be achieved through a combination of: (i) much-needed medium-term financing; (ii) innovative green finance instrument; and (iii) standard-setting.
Environmental and Social Summary
Categorised FI (ESP, 2019). UzPSB Bank is an existing client. UzPSB will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 and further with the EBRD's Environmental and Social Risk Management Procedures for Corporate, SME and Micro Loans and continue to submit Annual Environmental and Social Reports to the Bank. The finance is anticipated to be used for energy efficiency projects within SMEs, for which the overall environmental and social risk exposure is generally considered medium. UzPSB's Environmental and Social Management System is adequate for this type of investments.
Technical Cooperation and Grant Financing
UzPSB will benefit from a comprehensive TC package of up to € 3.5m dedicated to support the implementation of the GEFF Uzbekistan. There is no specific TC allocation for each participating bank.
Company Contact Information
+99897 745 7383
3, Shakhrisabz street, Tashkent city, 100000, Uzbekistan
PSD last updated
31 Mar 2021
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