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.
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).
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
JSICB Ipak Yuli
Head of Risk Management Department
+9989 71 1407804
2, A. Qodiriy street, 100017, Tashkent city, Uzbekistan
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/