PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

608416

Primary Business Area

Financial Institutions Group

Disclosure Date

Feb 13, 2024

Country

Tajikistan

Region

Central Asia and Turkiye

IFC Approval Date

Nov 9, 2023

Status

Active

Estimated Total Budget

$300,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Feb 14, 2024

Project Estimated Start Date

Oct 30, 2023

Project Estimated End Date

Sep 30, 2024

Project Description

The objective of this project is to support Bank Eskhata to become the first green-focused bank in Tajikistan. Through this transitional process, the bank will issue a first green bond and use proceeds to finance a green lending portfolio. IFC's role in the engagement with the Bank will consist of integrating a green focus into the Bank's current business model in order to develop a climate finance portfolio focused on the agriculture & energy sectors. The objective will be met by in-depth advisory implementation work along the five following workstreams: (1) Setting up a PMO to develop a sustainable & hands-on Project Management ability; (2) Green Finance, to develop a Green Finance pipeline in line with climate finance fundamentals; (3) Green Systems, to set-up the required operational procedures and IT systems to support the Green Business & Green Finance development; (4) Green Business & Strategy, to embed Green Business within the Bank’s strategy; and (5) HR & Change Management, to build the internal capacity of the bank through improved HR policies to support green business development

Development Results

E&S Risks / Impacts and Mitigation