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FIF - Hamkorbank MSME Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

29 Nov 2017



PSD disclosed:

25 Oct 2017

Translated version of this PSD: Uzbek

Project Description

A credit line of up to US$ 20 million ("the MSME loan") in favour of the Joint Stock Commercial Bank "Hamkorbank" to support private micro, small and medium-sized enterprises ("MSME") in Uzbekistan. The credit line will be accompanied by a US$10 million trade finance limit under the EBRD's Trade Facilitation Programme to support bank's financing of export and import operations.

Project Objectives

The MSME loan will allow Hamkorbank to expand lending to private MSMEs with a focus on regions and attraction of new clients in non-cotton related sectors.

The TFP limit will enable Hamkorbank to increase financing of import and export operations and widen its correspondent banking network by joining the EBRD TFP network of over 800 confirming banks.

Transition Impact

This project supports engagement with a private bank in a context of state-dominated banking sector. The MSME loan will foster competitiveness by increasing availability of financing to private MSMEs in regions and promoting innovations in strategy, products, processes and marketing related to MSME lending. Requirement to maintain adequate underwriting procedures for MSME loans will ensure sustainable lending and contribute to resilience of the institution.

The TFP limit will also contribute to competitiveness, by supporting Hamkorbank's trade finance business and facilitating intra-regional trade.

Client Information


Hamkorbank is the largest MSME focused and privately-owned bank in Uzbekistan. Headquartered in Andijan, the bank has wide outreach in the country through 32 branches and 177 service outlets.

EBRD Finance Summary

USD 20,000,000.00

Senior MSME loan: up to USD 20 million.

TFP limit of up to USD 10 million for guarantees and cash advances to finance export and import operations of Hamkorbank's private sector clients.

Total Project Cost

USD 20,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014); Hamkorbank (HB) will be required to comply with the EBRD's Performance Requirement (PR) 2 (Labour and Working conditions) which includes compliance with the International Labour Organisation (ILO) Standards and with PR 4 (Occupational Health and Safety). HB will also be required to comply PR 9 which includes implementing the EBRD's Environmental and Social Procedures for SME and Micro loans, adherence to the EBRD's Environmental and Social Exclusion list which includes prohibiting the financing of activities involved in the production or trade in cotton or cotton-related activities as applied to EBRD funds. Hamkorbank has an E&S Management System (ESMS) in place which should also be applied to the EBRD funds and the bank will be required to ensure that the staff dealing with EBRD's funds undertake the EBRD's E&S E-learning for FIs training. Hamkorbank will submit Annual Environmental and Social Reports to the EBRD on its compliance with the E&S requirements and the PRs.

Technical Cooperation

The bank will benefit from TC measures under the "Regional Small Business TC Programme for Central Asia" and the TFP TC framework.

Company Contact Information

General Enquiries
Page 3
85 Bobur Ave., Andijan, Republic of Uzbekistan, 170119

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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