JSICB IPAK YULI (FMO-57578)

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
U
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
Feb 26, 2020
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 Bank (“IYB”)
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)
$ 15.00 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)
$ 15.00 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

 

Provided  loan by FMO has given to JSICB Ipak Yuli Bank (“IYB”) in Uzbekistan.  This 5-year loan will be used to finance a combination of women, youth, agriculture Micro and SME customers of IYB (USD 13 million), which contribute to FMO's Reducing Inequalities target. In addition, the loan will partially be used to finance Green projects (USD 2 million), supporting FMO's Climate Action target.

Project Objectives

The loan supports women and young (agricultural) MSME entrepreneurs, with access to finance.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. MSMEs are the core of the Uzbek economy. In 2016 SMEs generated ~60% of the country’s GDP and provided more than 75% of total jobs.

Environmental and social rationale

The project has been categorized as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, the Bank will be required to apply the EDFI Exclusion List and Uzbekistan's E&S laws and regulations.

 

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

JSICB Ipak Yuli Bank (“IYB”) is a mid-sized universal bank in Uzbekistan with focus on Micro, Small and Medium sized enterprises. The bank operates a network of 15 branches (80 points of sale) with 1,863 staff. IYB is an existing client of FMO since 2013.

Contact Information

 

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