According to FMO website, this loan is provided to Hamkorbank of Uzbekistan. The loan will include an option for Hamkorbank to opt for local currency disbursement. The USD 30 million loan will be partly used (estimated USD 7.5m) to finance a combination of Youth and Agriculture Micro and SME customers of the bank, and the remainder will be used to finance general SME customers.
This loan indirectly supports job creation and maintenance in Uzbekistan with a specific focus on Micro, Youth, Agri and general SMEs. Furthermore, this loan provides the bank with stable medium term funding (partly in UZS), which strengthens Hamkorbank's balance sheet.
Hamkorbank has been categorized as Category B in accordance with FMO’s Sustainability Policy.
FMO has implemented an Independent Complaints Mechanism which allows external parties to file a complaint concerning projects financed by FMO.https://www.fmo.nl/independent-complaints-mechanism
JSCB HAMKORBANK <http://www.hamkorbank.uz/>