ETC Non-Bank MFI Framework



Project number:


Business sector:

Non-depository Credit (non bank)

Notice type:


Environmental category:


Approval date:

01 Jun 2005



PSD disclosed:

28 Apr 2005

Project Description

The proposed project will assist leading non-bank Microfinance Institutions (MFIs) to expand and improve their lending technology so as to increase access to finance for the smallest of borrowers across the Early Transition Countries (ETCs) of Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan.

The bank will extend loans directly to regulated MFIs which will on-lend funds to entrepreneurs and other sub-borrowers.

The overall objective of this Framework is to assist the non-bank MFIs in their commercialisation process which will ensure their long term sustainability.

Transition Impact

The transition impact is expected to be high to excellent. The project will have two main forms of transition impact. It will:

  • contribute to the strengthening and commercialisation of financially viable non-bank MFIs
  • increase the availability of finance to those micro-enterprises that would not normally be target borrowers for commercial banks.


The Client

Regulated, well-established non-bank MFIs, legally incorporated in the ETCs will be eligible for financing under this Framework.

EBRD Finance

The Framework is for USD 10 million in the form of senior loans to non-bank MFIs. Individual loan sizes will be from USD 0.3 million to USD 2 million. It is anticipated that up to USD 3 million may be provided in co-financing funds.

Project Cost

USD 11,113,600 including possible co-financing and funds for technical assistance.

Environmental Impact

Screened FI.

The non-bank micro-finance institutions (MFIs) will be required to comply with the EBRD’s Environmental Procedures for Small and Micro Loans which require adherence to the EBRD’s Environmental Exclusion and Referral List. The MFIs must ensure that borrowers are compliant with relevant national regulations and standards for environment, health and safety and submit Annual Environmental Reports to the EBRD.

Technical Cooperation


Company Contact

Sabina Dziurman, e-mail:


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

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Text of the PIP

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