Project detail - JSICB IPAK YULI


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Who is our client

JSICB Ipak Yuli Bank (“IYB”) is a mid-sized universal bank in Uzbekistan with focus on Micro, Small and Medium sized enterprises. The bank operates a network of 15 branches (80 points of sale) with 1,863 staff. IYB is an existing client of FMO since 2013.

Funding objective

FMO will act as sole B-lender in a 5 year senior unsecured loan arranged by a well reputed multilateral development bank. The loan will include an option for IYB to opt for local currency disbursement. The B-loan from FMO is up to USD 10m and will be used to finance a combination of women, youth, rural agriculture Micro and SME customers of IYB. The B-loan will contribute for 100% to FMO's Reducing Inequalities target.

Why we fund this project

Reducing inequalities is at the heart of FMO’s strategy. The FMO B-loan meets the United Nations Sustainable Development Goals supporting women and young MSME entrepreneurs with access to finance. Furthermore, this loan provides IYB with stable long term funding, which indirectly contributes to economic development in Uzbekistan.

Environmental and social rationale

Low risk, C-category. IYB has a well-functioning ESMS. No exposure to IFC PS triggered transactions, no exclusion list exposure, limited high risk E&S exposure, no project finance and an overall low average loan size.

More investments

Date Total FMO financing
1/6/2022 USD 15.00 MLN
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
7/31/2015 USD 15.00 MLN
12/11/2013 USD 5.00 MLN
Website client
Europe & Central Asia
Financial Institutions
Signing date
Total FMO financing
USD 5.00 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)