As stated by the EBRD, the project consists of the provision of a loan (Loan I) of up to US$ 10 million to Joint Stock Commercial Bank with Foreign Capital Hamkorbank (Hamkorbank) under the Youth in Business Programme for Central Asia (CA YiB). The proceeds of the Bank's investment will be used for on-lending to eligible youth-led MSMEs in line with standard eligibility criteria set forth in the CA YiB policy statement.
The CA YiB Loan I will enable Hamkorbank to maintain further diversification of its funding base, and to finance youth-led businesses in Uzbekistan. Hamkorbank will benefit from a comprehensive technical assistance to develop the internal capacity for financing youth-led businesses and to contribute to the improvement in access to finance for youth entrepreneurs in Uzbekistan.
As stated by the EBRD, Hamkorbank, founded in 1991, is a leading privately owned bank in Uzbekistan. In 2022, the bank ranked 10th largest among 31 banks with a market share of 3 per cent by total assets. The bank has a well-diversified product range serving corporates, MSMEs and retail customers with a strong regional outreach. Hamkorbank is majority owned by a local businessman Mr Ikram Ibragimov (55.8 per cent), FMO, responsAbility and IFC and other shareholders.
Financial Intermediary - JSCB Hamkorbank:
ACCESS TO INFORMATION
You can request information by emailing: email@example.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: firstname.lastname@example.org 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