PROJECT

Projects

Summary of Investment Information

Project Number

46642

Company Name

JSCB UZPROMSTROYBANK

Date SPI Disclosed

Dec 27, 2022

Country

Uzbekistan

Region

Central Asia and Turkiye

Projected Board Date

Jan 27, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 11, 2023

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : May 31, 2023
Signed : Jul 27, 2023
Invested : Aug 4, 2023

Sector

Commercial Banking - General

Project Description

The proposed project with JSCB “Uzbek Industrial and Construction Bank” (Uzpromstroybank, UzPSB, or the Bank), an existing investment and advisory client and an anchor partner of IFC's in Uzbekistan, consists of: (i) an up to US$40 million, 7-year subordinated loan to be committed in two tranches. The proceeds of the entire investment package will be used to on-lend to private micro, small and medium (MSME) companies; (ii) an up to US$25 million IFC anchor investment into a 5-year Eurobond issuance. The total issuance is going to be up to US$100 million with IFC to mobilize up to US$75 million, subject to market conditions.                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation