JSICB IPAK YULI (FMO-56194)

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
C
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
Aug 13, 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
JSICB IPAK YULI
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)
$ 20.00 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)
$ 20.00 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 given  to  JSICB Ipak Yuli Bank (“IYB”) of Uzbekistanwith for the 4 years period. The loan will be used to finance a combination of women, youth, agriculture Micro and SME customers of IYB, which contribute to FMO's Reducing Inequalities target. In addition, the loan will partially be used to finance Green projects, supporting FMO's Climate Action target.

Project Objectives

Uzbekistan is one of the poorer countries in the region with ~15% of the population living below the poverty line (down from 30% in 2001), of which 75% live in rural areas, where agriculture is the main industry.The loan meets the United Nations Sustainable Development Goals 5, 8, 10 and 13 by supporting women and young (agricultural) MSME entrepreneurs, with access to finance and by addressing climate action. Furthermore, this loan provides IYB with stable long term funding, which indirectly contributes to supporting job creation, job maintenance and economic growth.

Environmental and social rationale

Low risk, C-category. IYB has a well-functioning ESMS. No exposure to IFC PS triggered transactions, no exclusion list exposure, limited high risk E&S exposure, no project finance and an overall low average loan size.

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

 

  • JSICB Ipak Yuli Bank (“IYB”)-http://ipakyulibank.uz/index.php/en/