RF - Ipak Yuli Bank (EBRD-52198)

Countries
  • Uzbekistan
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 2, 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
Ipak Yuli 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)
$ 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.
Project Cost (USD)
$ 15.00 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 Nov 26, 2020

Disclosed by Bank Oct 15, 2020


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Project Description

Under this project EBRD is going to provide a loan US$ 15 million (EUR 12.7 million) to Ipak Yuli Bank, as one of the main partner of EBRD in Uzbekistan for development of MSME and private sector businesses.

PROJECT OBJECTIVES

This funding under the Resilience Framework  will facilitate the partner to continue lending, maintain the existing loan portfolio and support the clients with new financing in this difficult environment.

 

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

IPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANK

Ipak Yuli Bank is a universal commercial bank, the second largest private bank in Uzbekistan and 12th largest by assets among 31 local banks with a market share of 2 per cent by assets and loans. IYB is an active EBRD partner bank in the area of on-lending to private sector businesses via MSME and GEFF loan facilities, TFP and RSF.

Contact Information

 

Company Contact Information

Mr. Dilaziz Sultanov
Tel.: (+998-71) 140-6943
www.ipakyulibank.com

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