Project detail - JSICB IPAK YULI

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

The purpose of the intended facility is to support and promote the increasing trade finance activities of the bank.

Why we fund this project

The improving Uzbekistan economy offers increasing opportunities for trade finance. The bank is an existing FMO customer with a good track record. The proposed facility contributes to economic development in Uzbekistan.

Environmental and social rationale

The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, the bank will be required to apply the EDFI Exclusion List and (Country) E&S laws and regulations.

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
10/15/2018 USD 5.00 MLN
7/31/2015 USD 15.00 MLN
12/11/2013 USD 5.00 MLN
Website client
http://ipakyulibank.uz/index.php/en/
Region
Europe & Central Asia
Country
Uzbekistan
Sector
Financial Institutions
Signing date
5/17/2019
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