Original disclosure @ IFC website
Updated in EWS Mar 10, 2023
Disclosed by Bank Mar 6, 2023
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The proposed project consists of (i) an up to US$5 million IFC A loan; and (ii) up to US$10 million equivalent B loans to a longstanding IFC’s client in Uzbekistan – Uzbek Leasing International A.O. (ULI). The proposed Loan maturity is 4 years with a 1-year grace period and will be denominated in USD. The proposed financing will enable ULI to support its leasing operations with a focus on small and medium enterprises and will have a 35% allocation towards climate finance leasing.
The project has been categorized as FI-2 according to the IFC's Sustainability Policy.
As stated on the IFC's website, ULI is the first leasing company established in Uzbekistan in 1996 and stands as one of the leading SME-focused leasing companies in Uzbekistan. ULI has three shareholders namely, (i) the JSC National Bank for Foreign Economic Activity of Uzbekistan, one of the largest banks in Uzbekistan operating for over 29 years (45.5% stake), (ii) Uzbek-Oman Investment Company, an equity investment fund owned by the State General Reserve Fund of Sultanate of Oman, the largest sovereign wealth fund of the Sultanate of Oman tasked to invest in a diversified portfolio of non-oil overseas assets (44.1% stake) and lastly, (ii) Maybank Banking Berhad, one of the largest bank and financial group in Malaysia, with significant banking operations in Singapore, Indonesia and the Philippines (10.4% stake).
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||JSC National Bank for Foreign Economic Activity of Uzbekistan||Investor||Finance|
|-||-||-||-||Maybank Banking Berhad||Investor||Finance|
|-||-||-||-||Uzbek-Oman Investment Company||Investor||Finance|
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Financial Intermediary - Uzbek Leasing International A.O.:
Zafar Mustafaev - CEO
Address: 10084 Tashkent, Yunusabad district, Amir Temur Avenue, 88-A, Simur Business Center, 5th floor
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
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