OJSC Bank Eskhata
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
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 prospective customer?
Bank Eskhata is a long-established commercial bank founded in 1994 in Khujand, the regional capital of Northern Tajikistan. The bank offers a wide range of financial services including lending, deposit taking, foreign currency exchange, and money transfer. It specializes in lending to micro, small and medium sized enterprises (MSMEs) in Tajikistan, and is the country’s market leader in money remittance operations.
What is our funding objective?
The financing provided by FMO will be fully allocated to expanding Bank Eskhata’s lending to MSMEs in Tajikistan, with emphasis on agriculture as well as women- and youth-owned businesses. Through this targeted use of proceeds, the investment aims to improve access to finance for small enterprises that are typically underserved, support income generation, and contribute to greater financial inclusion in Tajikistan.
Why do we want to fund this investment?
Access to long-term international funding in Tajikistan remains limited, especially in local currency. FMO’s proposed USD 30 million dual-currency facility addresses this gap by providing medium-term funding while reducing currency risk. This allows Bank Eskhata to expand lending beyond domestic funding limitations and better serve MSMEs. FMO’s investment aims to support activities that contribute to Inclusive Growth, contributing to SDG 10 and to SDG 8.
What is the Environmental and Social categorization rationale?
Bank Eskhata is categorized as E&S Category C, reflecting its primary focus on retail and small-scale business lending and its limited exposure to higher risk sectors. The Bank complies with applicable national environmental and social (E&S) legislation and has no exposure to activities that would trigger the application of IFC Performance Standards. It is fully aligned with the EDFI Exclusion List.
- Website customer/investment
- https://eskhata.com/
- Region
- Europe & Central Asia
- Country
- Tajikistan
- Sector
- Financial Institutions
- Publication date
- 7/24/2026
- Deadline for feedback
- 8/23/2026
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
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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