Early Warning System

Countries

Uzbekistan

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

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

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

Project Status

Proposed

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."

Borrower

IPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANK

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

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

Investment Amount (USD)

$ 10.00 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)

$ 10.00 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.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 24, 2024

Disclosed by Bank Apr 16, 2024

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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.

According to the Bank’s website, the project consists of the provision of a three-year senior loan (YiB Loan I) of up to US$ 10 million in the local currency equivalent to Ipak Yuli Bank (IYB), a major private bank in Uzbekistan, under the Youth in Business Programme for Central Asia (CA YiB). The proceeds of the Bank's investment will be used for on-lending to eligible youth-led MSMEs in line with standard eligibility criteria.

The YiB Loan I will enable Ipak Yuli Bank to maintain further diversification of its funding base, and to finance youth-led businesses in Uzbekistan. Ipak Yuli Bank will benefit from a comprehensive technical assistance (TC) to develop the internal capacity for financing youth-led businesses and to contribute to the improvement in access to finance for youth entrepreneurs in Uzbekistan.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

USD 10,000,000.00 - A three-year senior unsecured loan of up to US$ 10 million under the Youth in Business Programme for Central Asia (CA YiB). The loan will be provided in two equal tranches of US$ 5 million and will be available in the synthetic local currency (Uzbekistan Sum).

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.

Ipak Yuli Bank JSCIB (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.

IPAK YULI JOINT-STOCK INNOVATION COMMERCIAL BANK - Ipak Yuli Bank is a leading privately-owned bank in Uzbekistan with focus on SMEs. With a market share of close to 3 per cent, Ipak Yuli Bank is the fourth largest by assets private bank in Uzbekistan out of 25 private banks.

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.

COMPANY CONTACT INFORMATION

Dilaziz Sultanov
d.sultanov@ipakyulibank.uz
+998 (78) 140-69-43
+998 (78) 140-69-05
http://www.ipakyulibank.uz/
2, Abdulla Qodiriy Street, Tashkent, Uzbekistan

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html