JSCB HAMKORBANK (FMO-55971)

Countries
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
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 28, 2019
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
JSCB HAMKORBANK
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)
$ 30.00 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)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 15, 2020


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Project Description

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. 

 Project Objectives

 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.

Environmental and social rationale

Hamkorbank has been categorized as Category B in accordance with FMO’s Sustainability Policy. 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Contact Information

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/>