Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Uzbekistan

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

Asian Development Bank (ADB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Completed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Aug 20, 2015

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Uzbekistan

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Construction
Finance
Infrastructure

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 100.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 842.45 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Other Related Projects

Primary Source

Original disclosure @ ADB website

Updated in EWS May 20, 2024

Disclosed by Bank Sep 29, 2016

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

This project is the third component of a multitranche Housing for Integrated Rural Development Investment Program. This tranche funds mortgages for housing in rural community sites.

The previous components of this project include the disbursement of sub-loans and construction of new houses serviced with utilities, capacity building of local governments for rural development, and enabling entrepreneurs, micro, and small enterprises to establish themselves in rural areas.

The Housing for Integrated Rural Development (HIRD) Investment Program is a five-year, $500 million multitranche financing facility (MFF) approved in 2011.
Under component 1, new modern houses are built in planned rural community sites, on land plots serviced with electricity, gas, water supply, and roads provided by local governments. ADB loans to the government are onlent to participating commercial banks (PCBs) that provide subloans to rural residents who enter into contracts with Qishloq Qurilish Invest (QQI) to build new houses. Under the MFF, ADB has financed 19,606 subloans.
Under component 2, the capacity of local governments to prepare and implement integrated rural development plans and investment promotion strategies is being improved. Component 2 is financed entirely by the government.
Under component 3, the government is implementing measures to improve the enabling environment for entrepreneurs and micro and small enterprises to expand or establish new businesses in rural areas. Component 3 is also financed entirely by the government. A third tranche of $100 million to fund mortgages for houses was approved in 2015. ADB procurement procedures was followed for the main civil works contracts for houses and implemented nationwide involving local governments and using other institutional arrangements and structures practiced in public procurement.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The ADB categorized the project risks as follows:

Environment	FI-C
Involuntary Resettlement	FI-C
Indigenous Peoples	FI-C

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Asian Development Bank (ADB)

This project is co-financed by the Islamic Development Bank, who is providing a loan of US$100 million.

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Qishloq Qurilish Bank (Financial Intermediary)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Qishloq Qurilish Bank is a commercial financial institution serving clients in Uzbekistan. It was established in 1994.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Ministry of Economy
ROULAMOV@MINECONOMY.UZ
Uzbekistan Avenue, 45A Tashkent, 100060, Republic of Uzbekistan

ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at:
http://www.adb.org/site/accountability-mechanism/main