Original disclosure @ FMO website
Updated in EWS Jul 15, 2020
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Under this project FMO provided the loan to JSICB Ipak Yuli Bank (“IYB”) in Uzbekistan. This 2-year loan will be fully used to finance a combination of women, youth, agriculture Micro and SME customers of IYB, which contribute to FMO's Reducing Inequalities target.
The loan supports women and young (agricultural) MSME entrepreneurs, with access to finance. Furthermore, this loan provides IYB with stable medium term funding, which indirectly contributes to supporting job creation, job maintenance and economic growth.
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.
JSICB Ipak Yuli Bank (“IYB”) is a mid-sized universal bank in Uzbekistan with focus on Micro, Small and Medium sized enterprises.
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
JSICB Ipak Yuli Bank (“IYB”)