GCF GEFF Regional - Arvand (EBRD-51674)

Countries
  • Tajikistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
Mar 2, 2021
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
Arvand Bank
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 7, 2021

Disclosed by Bank Mar 5, 2021


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Project Description

Under this project EBRD provides a senior loan of up to US$ 2.0 million to Arvand Bank under GEFF Tajikistan.

PROJECT OBJECTIVES 

The project objective is to promote investments in efficient climate change mitigation and adaptation technologies and to contribute to Tajikistan's transition to an environmentally sustainable and climate-resilient economy.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors
Private Actors Description

Arvand was transformed from an MFI into bank in September 2019 and currently operates as a fully-fledged universal commercial bank, offering a full range of banking services, primarily to retail segment. As of end 2020 Arvand Bank was the seventh-largest bank by assets and fifth in terms of loan book in Tajikistan. Arvand bank is a longstanding EBRD partner bank serving around 39,000 borrowers and 49,000 deposit customers through 8 branches and 63 customer service outlets across Tajikistan as of end 2020. The relationship between EBRD and Arvand began in 2006, and since then comprised 11 projects in the total amount of USD 13.5m. 

Contact Information

Company Contact Information

Gulnora Yakubova
gulnora.yakubova@arvand.tj
+992 44 600 14 00
www.arvand.tj
CJSC Bank Arvand 1A Somoni Avenue Khujand, 735700, Republic of Tajikistan

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html