Project detail - JSICB IPAK YULI

JSICB IPAK YULI

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Who is our client

OJSCB Ipak Yuli Bank (IYB), incorporated in 1990, is among the leading private banks in Uzbekistan. The bank's primary business comprises retail, commercial, and corporate banking activities, securities operations, FX operations, money transfers, origination of loans and guarantees and deposit taking.

Funding objective

FMO has provided Ipak Yuli Bank with a US$13 mln loan. The facility will be used for on-lending to local SMEs and corporate clients.

Why we fund this project

For many years Uzbekistan and the Uzbek financial sector in particular have been relatively isolated from the international financial system. As such, US dollar funding is rather scarce in the local market. Local companies require dollars to purchase capital goods and supplies abroad. FMO's loan is a means for Ipak Yuli Bank to meet local demand and provide dollar funding to local companies, which will further benefit their development, growth and economic relevance.

More investments

Date Total FMO financing
4/30/2020 USD 5.00 MLN
2/26/2020 USD 15.00 MLN
8/13/2019 USD 20.00 MLN
5/17/2019 USD 5.00 MLN
10/15/2018 USD 5.00 MLN
7/31/2015 USD 15.00 MLN
Website client
http://ipakyulibank.uz/index.php/en/
Region
Europe & Central Asia
Country
Uzbekistan
Sector
Financial Institutions
Signing date
12/11/2013
Total FMO financing
USD 5.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
C