30831 - AccessBank Tajikistan

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Summary of Proposed Investment

Project Number

30831

Company Name

ACCESSBANK TAJIKISTAN CJSC

Date SPI Disclosed

Apr 15, 2011

Country

Tajikistan

Industry

Financial Markets

Projected Board Date

May 20, 2011

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Global Industry, Financial Markets

Environmental Category

Previous Events

Approved : May 31, 2011
Signed : Jun 3, 2011
Invested : Aug 19, 2011

Project Description

The proposed project is to provide a senior loan of up to $4 million to CJSC AccessBank Tajikistan (“ABTJ” or the “Bank”). Proceeds of the loan will be used to finance the expansion of their lending to micro and small entrepreneurs (the “Project”). ABTJ currently seeks long-term funding to continue its dynamic growth and offer new products to its target clientele.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	4.0
Equity

Development Impact

The Project is expected to have the following development impacts: (i) increase access to finance for MSEs; (ii) contribute to employment creation and poverty reduction in Tajikistan; (iii) support the Bank's efforts to diversify and increase the volume of its funding; (iv) build market confidence in financial institutions and encourage more intermediaries to extend financial services to target segment; and (v) deepen the financial markets, stimulate competition in the microfinance sector and increase lending products and services available in the market.

IFC has a strong role and additionality in the Project by providing term financing to a greenfield microfinance bank in an IDA country, at a time when there is limited liquidity in the market. Through this project, IFC would play an important developmental role in providing ABTJ with additional longer term resources for on-lending to microfinance clients, thereby ensuring the Bank's loan portfolio growth while supporting the Tajik microfinance sector.

The Project is with the existing IFC client to provide a senior loan to ABTJ to support the Bank’s on-lending to target microfinance clients and small entrepreneurs and has been classified as a Category FI project according to the IFC’s Environmental and Social Review Procedure. The E&S appraisal will focus on reviewing ABTJ’s performance in terms of applying its current SEMS and labor practices, as well as on reviewing the Bank’s portfolio in terms of possible E&S risks. ABTJ will be required to maintain its current Social and Environmental Management System to screen projects against Exclusion List and applicable national S&E laws for larger loans to small entrepreneurs in manufacturing sector, to maintain its labor practices in accordance with the IFC Performance Standard 2: Labor and Working Conditions and regularly submit annual environmental performance reports to IFC.

Contacts

For Inquiries About the Project, Contact

Mr. Johannes Mainhardt Financial and Operations Manager CJSC AccessBank Tajikistan 61/1 Firdavsi Street, Dushanbe 734061, Republic of Tajikistan Tel: +992 (37) 231 98 24 Fax: +992 (37) 231 98 07 E-mail: johannes.mainhardt@accessbank.tj

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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