Within a framework structure, the EBRD extends credit lines directly to selected Uzbek partner banks (PBs), which on-lend the funds exclusively to micro and small enterprises (MSEs). To enable Uzbek banks to successfully engage in MSE lending throughout their branch network with the help of specialised technical assistance for training and institution building; attain broad regional and target group coverage by providing MSEs with reliable access to financing.
High transition impact is expected due to institution building and strengthening of participating banks; provision of continuous access to reliable finance to micro and small enterprises including those in remote, rural and economically depressed regions. The Programme would provide a model to the local banking sector to engage in MSE finance. The Programme would also assist in identifying legal and regulatory impediments for MSE finance and address the findings with government in order to foster the development of the private sector and an open economy.
The J-USBP is a sovereign-guaranteed framework with a focus on selected local commercial banks that meet standard eligibility criteria. The Programme builds upon the experience gained in the J-USBP Pilot. So far loan agreements were signed with two partner banks: Hamkor Bank ((USD 2 million) and Pakhta Bank (USD 7 million). The selection process for additional banks will be finalised in 2002 while it is intended that the entire Programme will involve at least four partner banks.
Sovereign-guaranteed credit line of up to US$ 20 million (€21.4 million) which will be co-financed by the International Finance Corporation (IFC).
US$ 20 million, which will be co-financed by IFC.
PBs will carry out their operations in accordance with the EBRD's "Environmental Procedures for Small and Micro Loans". In implementing these procedures, they will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.
US$ 5 million was allocated from the Japan-Europe Co-operation Fund (JECF) for training of the credit personnel and institution building within all PBs. TC will also support regional expansion and entrance of additional PBs during 2002 and beyond.
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Text of the PIP