Uzbekistan SME Credit Line II



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

03 Dec 1996



PSD disclosed:

04 Nov 1996

Project Description

A medium-term credit line of US$ 120 million to be made available to a group of Uzbek banks for on-lending to private sector companies undertaking investment projects in Uzbekistan.

Project objectives:

1) Support of private sector companies in Uzbekistan, thereby assisting the transition process; 2) indirect financing of projects that the EBRD cannot finance due to their size; 3) continued support of the financial sector and financial intermediation in Uzbekistan.

Transition Impact

The loan will support the growth, development, and strengthening of the private sector in general by providing needed term funds for the development of private enterprises in Uzbekistan.

The Client

A group of Uzbek banks to be funded as follows:

First phase:
National Bank of Uzbekistan US$ 60 million
Asaka Bank US$ 30 million

Second phase:
UzPromstroy Bank US$ 15 million
Pakhta Bank US$ 15 million

EBRD Finance

The US$ 120 million (ECU 96 million equivalent) credit line will provide funding to the participating banks to promote the increase of medium-term lending to private sector companies undertaking investment projects in Uzbekistan.

Project Cost

US$ 120 million (ECU 96 million equivalent).

Environmental Impact

The participating banks will follow the EBRD's "Environmental Procedures for EBRD Intermediated Lending through Local Banks" in relation to all sub-loans financed through the credit line. In implementing these procedures, the participating banks will assess potential environmental issues associated with sub-projects which are required to comply with local and/or national health, safety, environmental and public consultation requirements. The participating banks will report annually to the EBRD on environmental issues related to the credit line.

Technical Cooperation

Technical cooperation funds may be required for the training of personnel in participating banks in the use of the environmental procedures.


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)

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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