EBRD Loan to Davr Bank in Uzbekistan
Банк)! Официальный, как положено) Кредиты, ипотеки, автокредиты, переводы, микро-займы. https://davrbank.uz/
Davr Bank in Uzbekistan is one of the largest commercial banks in the country. It provides a full range of services to both individuals and legal entities. The bank is licensed by the Central Bank of the Republic of Uzbekistan. At the end of 2019, it ranked 19th in assets and 18th in loan portfolio. In terms of its retail clients, the bank has 158,000 customers, including individual and corporate customers.
Women-owned micro, small and medium enterprises (MSMEs) in Uzbekistan are estimated to have a $2.7 billion gap in financing. This project aims to address this challenge by increasing the access to finance for women-led MSMEs. To support its implementation, the project will provide advisory and skills development services to MSMEs, and will develop sustainable credit mechanisms for women. IFC is supporting this initiative by allocating $5 million in medium-term financing to Davr Bank.
Under the project, DAVR Bank will receive US$5 million of equivalent Uzbek Sum ("UZS") - linked Working Capital Solution ("WCS") facility to support its MSME line. These proceeds will be allocated to financing women-led MSMEs. Moreover, the EBRD will help the bank develop its lending practices to address the needs of women entrepreneurs. Additionally, the EBRD's expertise and knowledge in the field of Advice for Small Businesses will support the development of the MSMEs lending product. Moreover, the GTFP Trade Advisory program will strengthen the bank's trade finance capabilities.
For the benefit of its clients, EBRD will also help DAVR Bank implement the women-led MSMEs financing initiative. It will do this by providing technical assistance to the bank in developing its lending practices and products. As part of its advisory engagement, EBRD will ensure that Davr Bank meets EBRD's standards and policies for environmental and social risk management for SME and micro loans. Moreover, the bank will be required to submit annual environmental and social reports and comply with the EBRD's Environmental and Social Risk Management Procedures for SME and Micro Loans.
The EBRD will also enhance the bank's trade finance capabilities by facilitating the development of a trade advisory program to advise DAVR Bank clients on the most effective way to promote their products and services to the market. Furthermore, EBRD will provide expertise, knowledge and innovation to the bank, and will help it to achieve higher levels of standards and performance. Lastly, the GTFP Trade Advisory program will improve the bank's sales capabilities, helping it to gain a competitive advantage in the market.
EBRD has been active in Uzbekistan since 1992, with a total investment of EUR894 million. During this period, EBRD has implemented 54 projects in Uzbekistan. However, in the past few years, EBRD has been more actively engaged, after a series of significant changes in the country. Since then, EBRD has renewed its engagement in the country and signed six new operations. One of the latest initiatives is a new investment line to support local currency financing of women-led micro, small and medium enterprises.