Ipak Yuli WCS (IFC-39320)

Countries
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 23, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
IPAK YULI BANK JSIB
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Communications
  • Construction
  • Finance
  • Industry and Trade
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 17.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 17, 2018

Disclosed by Bank Aug 13, 2018

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Project Description

This project provides financing to Ipak Yuli Bank JSCIB to provide access to working capital for micro, small and medium-sized enterprises through lending.

According to Bank documents, Ipak Yuli Bank's portfolio consists of clients in manufacturing, trade, agriculture, services, construction, transportation and communication sectors. IFC states that investments under this project will likely have low to medium environmental and social risks. 

Investment Description
  • International Finance Corporation (IFC)

The IFC is proposing to provide a loan of US$15 million, and a guarantee of up to US$2 million through its Global Trade Finance Program (GTFP).

Private Actors
Contact Information

JSICB Ipak Yuli 
Tursunboy Makhkamov 
Head of Risk Management Department 
+9989 71 1407804 
t.makhkamov@ipakyulibank.uz 
2, A. Qodiriy street, 100017, Tashkent city, Uzbekistan 
www.ipakyulibank.uz 

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/