GEFF Uzbekistan - Ipak Yuli

Location:

Uzbekistan

Project number:

49824

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

12 Dec 2018

Status:

Disbursing

PSD disclosed:

06 Nov 2018

Translated version of this PSD: Uzbek | Russian

Project Description

Provision of a senior loan of up to US$ 5 million or equivalent in the local currency ("Loan") to Joint Stock Commercial Innovative Bank "Ipak Yuli" under the Green Economy Finance Facility ("Facility") in Uzbekistan. The financing will be used for on-lending to eligible sub-borrowers for green economy investments.

Project Objectives

The Loan will be the first dedicated green economy financing by the EBRD targeting private sector of the country. The proceeds will be used for on-lending to qualified private small and medium sized enterprises ("SME") to finance eligible green economy investments in line with the objectives of the Facility.

Transition Impact

The Loan is expected to contribute to transition by (i) demonstrating the effects of green economy investments to Ipak Yuli Bank and sub-borrowers, as well as (ii) transferring skills to Ipak Yuli Bank, sub-borrowers and intermediaries on the development and financing of green economy projects.

Client Information

IPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANK

Ipak Yuli Bank, founded in April 1990, is a universal commercial bank with primary focus on SME clients. It is the 13th largest bank in the country (5th largest among private banks) with a 2 per cent share of sector assets as of end June 2018. The distribution network comprises 14 branches and 65 mini-banks providing good client outreach in the country.

EBRD Finance Summary

USD 5,000,000.00

Total Project Cost

USD 5,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Ipak Yuli Bank will be required to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 as well as submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

The Loan will benefit from the Technical Cooperation package implemented under the Facility.

Company Contact Information

info@ipakyulibank.uz
+998 78 140 6900
http://www.ipakyulibank.com/
2A Kodiriy Street, Tashkent, Uzbekistan, 100017

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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