Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.
$963,749.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 6, 2024
Project Estimated Start Date
Oct 1, 2017
Project Estimated End Date
Dec 31, 2019
Project Description
The Project will focus on revamping the business model, and transforming the bank into a commercially viable and sustainable institution. These efforts will entail strengthening the Bank's operations, improving the profitability structure, corporate governance, risk management to sustainably expand outreach to MSME sector.
Development Results
This project intends to support the institutional transformation of Ipoteka-Bank, to turn it into valuable business, operating as sustainable commercial institution under the effective profit making business model. The ultimate goal is to help attract a strategic foreign partner to take the transformed institution into the next level of sustainable development with the focus on supporting MSMEs in the country.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of new financial products designed
2
7
Number of participants in workshops, training events, seminars, conferences, etc.
0
152
Number of participants providing feedback on satisfaction
0
55
Number of participants reporting satisfied or very satisfied with workshops, trainings, seminars, conferences, etc.
Not Available
55
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
Not Available
3
Number of workshops, training events, seminars, conferences, etc.
0
8
Number of new financial products launched
2
7
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
0
18
Value of financing facilitated (US$)
35,000,000
35,000,000
E&S Risks / Impacts and Mitigation
Performance Standard
Description & Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life-circle of the project.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as a final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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