Hamkorbank A+B Loan 2026 (IFC-53290)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Tashkent and Andijan
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
HAMKORBANK JSCB
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 70.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 14, 2026

Disclosed by Bank Jul 1, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed investment entails a senior loan of up to US$100 million to Hamkorbank, an IFC investment client since 2001, to support its lending to local MSMEs (of which at least 80% will be SMEs), including WMSMEs, in the Republic of Uzbekistan. The Project comprises an A-loan of up to US$70 million from IFC's own account as well as at least US$30 million to be mobilized under IFC's B-loan program and/or from parallel lenders. A-loan may be reduced to accommodate a larger B-loan, subject to positive market response to syndication efforts. A 35% contractual carve-out of the use of proceeds is designated for WMSMEs, with a best-effort 10% climate target. The A-Loan tenor will be 4 years including 12 months grace period, the tenor of the B-Loans may be shorter subject to lenders appetite.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Project will support general financing for MSMEs and WMSMEs, as well as climate financing for SMEs. The Bank’s portfolio is primarily concentrated in business lending, evenly split between SME and corporate segments. Sector-wise, exposures span housing and utilities/consumer-related activities, internal trade, manufacturing, transportation and communication, construction, agriculture, and material procurement and distribution. Overall E&S risks are assessed as medium. Transactions supported under the Project are expected to be predominantly medium-to-low E&S risk. Accordingly, the Project has been categorized as FI-2 under IFC’s Environmental and Social Sustainability Policy.

The Bank will not finance any activities on the IFC Exclusion List, nor will it support borrowers engaged in coal-related and higher-risk business activities, including: (i) involuntary resettlement; (ii) risk of adverse impacts on indigenous peoples; (iii) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage; (iv) retrenchment; or (iv) significant occupational health and safety risks.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Project involves a four-year senior A-Loan of up to US$70 million, which will support the Bank’s lending to MSMEs (of which at least 80% will be SMEs), including a 35% carve-out for women-owned MSMEs and up to 10% for climate on a best effort basis. The Project may also include a senior syndicated loan of US$30 million or more subject to B-lender appetite. The tenor of the B-Loans may be shorter.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Hamkorbank was established in 1991 as a private bank for MSME sector in Andijan region. With total assets reported under IFRS as of the end of 2025 of USD 3.0 billion, now it ranks 9th by total assets and is the 3rd largest private bank in Uzbekistan, with a customer base of 5.5 million individuals, 72.0 thousand individual entrepreneurs and 58.6 thousand entities. The Bank maintains a network of 196 offices and provides a comprehensive array of financial services for the wide range of retail and corporate customers.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For Inquiries About the Project, Contact:
CEO Rafal Juszczak
Joint Stock Commercial Bank with Foreign Capital "Hamkorbank"
85 Bobur Avenue
170119 Andijan city
Uzbekistan

How it works

How it works