Provision of up to US$ 10 million (ECU 8.3 million) in small equity investments, convertible debt financing and direct bank-to-bank credit lines to privately owned banks in Kyrgyzstan and Turkmenistan.
The main objective of the operation is to support the development of the banking sectors in Kyrgyzstan and Turkmenistan.
The operation will contribute to the transition of the Kyrgyz and Turkmen economies in two ways. First, it aims to support the banking sector through the combination of equity and debt financing and by promoting adherence to good standards of corporate governance, strengthening financial performance and ensuring financial discipline. Second, the framework will provide significant support to small and medium-sized enterprises in both Kyrgyzstan and Turkmenistan by providing access to medium and long-term credit, indirectly contributing to job creation.
Private banks in Kyrgyzstan and Turkmenistan.
This framework is a programme for the provision of up to US$ 10 million (ECU 8.3 million) in small equity investments, convertible debt financing and direct bank-to-bank credit lines to privately owned banks in Kyrgyzstan and Turkmenistan.
US$ 10 million (ECU 8.3 million).
Participating banks (PBs) in this operation will follow the EBRD's "Environmental Procedures for Local Banks". In implementing these procedures, the PBs 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.
The level of technical cooperation required for each project will be assessed on a case-by-case basis.
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Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (firstname.lastname@example.org) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.