MICROCREDITBANK (FMO-60071)

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
A
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.
Borrower
Joint-Stock Commercial Bank Microcreditbank
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)
$ 17.98 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 15.40 MLN
Converted using 2021-08-19 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 3, 2021

Disclosed by Bank Aug 19, 2021


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Project Description

According to FMO bank information, under this project it would be provided loan to Joint-Stock Commercial Bank Microcreditbank ("Microcreditbank") of Uzbekistan.

 

Investment Description
Private Actors Description

Joint-Stock Commercial Bank Microcreditbank ("Microcreditbank"), Uzbekistan will be the FMO/Invest International borrower. Microcreditbank was established in 2006, in accordance with the Decree of the President of the Republic of Uzbekistan. Executing its role as a state-owned development bank, Microcreditbank focuses on providing financial solutions to SMEs, entrepreneurs and retail clients in rural areas of Uzbekistan. The bank consists of a large and wide branch network across the country (71 branches and offices).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Microcreditbank_UZ Client Finance

Contact Information

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism