RF - Arvand Bank Loan (EBRD-51675)

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.
Project Status
Active
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
Jun 23, 2020
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 CJSC
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)
$ 1.50 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)
$ 1.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 3, 2020

Disclosed by Bank Sep 3, 2020


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Project Description

According to the EBRD's website, this project provides financing to Arvand Bank for funding local micro and small enterprises as part of the Bank's response to the COVID-19 pandemic.

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

Arvand has transformed from a Microfinance Institution (MFI) into a 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. Arvand Bank is the seventh-largest bank by assets and fifth in terms of loan book and is a longstanding EBRD partner-bank. The bank currently serves over 43,000 borrowers and 45,000 deposit customers through 8 branches and 60 banking service centers across Tajikistan. 

Contact Information

Company Contact
Abdulloev Kahor
kahor.abdulloev@arvand.tj
+992 44 600 14 00
+992 3422 4 32 40
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