Summary of Proposed Investment
Project Number
10253
Company Name
PARVINA BANK PJSC
Date SPI Disclosed
Jul 11, 2000
Country
Uzbekistan
Industry
Financial Markets
Projected Board Date
Aug 25, 2000
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG MCT
Environmental Category
FI
Previous Events
Approved : Sep 28, 2000
Signed : Mar 30, 2001
Invested : Jan 30, 2003
Project Description
The project involves provision of a long-term credit line totaling up to US$1.0 million to Parvina Bank. The credit line will be in the form of a subordinated debt to be on-lent to small and medium enterprises (SMEs). The credit line will be used to provide sub-loans to finance capital expenditures, investments for expansions, working capital and trade finance necessary for the development of the nascent Uzbek private sector.
The sub-loan amount may be as low as US$10,000 and the maximum size is expected to be US$250,000. Eligible SMEs are expected to be privately owned, have sound management and balance sheet, have prepared a viable business plan, and have an export oriented business or have arrangements in place to obtain foreign exchange.
The project seeks to address the scarcity of term finance in Uzbekistan, especially to recently privatized or newly created private SMEs. According to the International Monetary Fund (IMF), it is very difficult for SMEs to obtain foreign exchange through official channels since the intensification of foreign exchange restrictions in late 1996. The credit line will support commercially viable projects in the country''s emerging private sector by facilitating term and other financing in hard currency.
The sub-loan amount may be as low as US$10,000 and the maximum size is expected to be US$250,000. Eligible SMEs are expected to be privately owned, have sound management and balance sheet, have prepared a viable business plan, and have an export oriented business or have arrangements in place to obtain foreign exchange.
The project seeks to address the scarcity of term finance in Uzbekistan, especially to recently privatized or newly created private SMEs. According to the International Monetary Fund (IMF), it is very difficult for SMEs to obtain foreign exchange through official channels since the intensification of foreign exchange restrictions in late 1996. The credit line will support commercially viable projects in the country''s emerging private sector by facilitating term and other financing in hard currency.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Parvina Bank
82 b, O''zbekiston Street,
Samarkand City 703005
Chairman: Mr. Dilshod KhakberdiyevichPulatov
Phone: 7 (3662) 31 05 07 / 31 16 68 (e-mail: Parvina@online.ru)
82 b, O''zbekiston Street,
Samarkand City 703005
Chairman: Mr. Dilshod KhakberdiyevichPulatov
Phone: 7 (3662) 31 05 07 / 31 16 68 (e-mail: Parvina@online.ru)