GEFF Uzbekistan - Ipak Yuli

Location:

Uzbekistan

Project number:

49824

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

12 Dec 2018

Status:

Concept Reviewed

PSD disclosed:

06 Nov 2018

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

 

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