IPOTEKA BT (IFC-602352)

Countries
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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
Oct 3, 2017
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
Ipoteka-Bank
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)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.96 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 17, 2019

Disclosed by Bank Mar 22, 2019


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Project Description

According to IFC website, the Project will focus on revamping the business model, and transforming the bank into a commercially viable and sustainable institution. These efforts will entail strengthening the Bank's operations, improving the profitability structure, corporate governance, risk management to sustainably expand outreach to MSME sector. It intends to support the institutional transformation of Ipoteka-Bank, to turn it into valuable business, operating as sustainable commercial institution under the effective profit making business model. The ultimate goal is to help attract a strategic foreign partner to take the transformed institution into the next level of sustainable development with the focus on supporting MSMEs in the country. 

People Affected By This Project

This project intends to support the institutional transformation of Ipoteka-Bank, to turn it into valuable business, operating as sustainable commercial institution under the effective profit making business model. The ultimate goal is to help attract a strategic foreign partner to take the transformed institution into the next level of sustainable development with the focus on supporting MSMEs in the country.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Ipoteka Bank provides a range of banking services to clients. Its services for private clients include consumer and mortgage loans, payment cards, deposits, and international money transfers; and for corporate clients include cash and payment services, loans for increasing working capital, leasing, guaranties, and financing investment projects in foreign currency.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/