Project detail - JSICB IPAK YULI


Status: Completed investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

JSICB 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.

What is our funding objective?

Together with our financing partners, Triodos-DEG, we provided Ipak Yuli Bank with a US$35 million loan. The facility will be used for on-lending to local SMEs and corporate clients.

Why do we fund this investment?

For many years Uzbekistan and the Uzbek financial sector in particular have been relatively isolated from the international financial system. As such, US$ 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.

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Website customer/investment
Europe & Central Asia
Financial Institutions
Effective date
End date
Total FMO financing
USD 15.00 MLN
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)