41953-014: UZB: EQUITY INVESTMENTS IN IPAK YULI BANK | Asian Development Bank


Nonsovereign (Private) Project | 41953-014 Status: Approved

Project Details

Project Officer
Gunawardhena, Manohari Private Sector Operations Department Request for information
  • Uzbekistan
  • Finance
Project Number 41953-014
Borrower/Company JSC BANK IPAK YULI
Country Uzbekistan
Type or Modality of Assistance
7372 Equity USD 11,478.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance / Banking systems and nonbank financial institutions - Inclusive finance - Small and medium enterprise finance and leasing

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Gunawardhena, Manohari
Project Sponsor(s)
Objectives and Scope Through its equity investment, ADB will provide systemic support to the banking sector in Uzbekistan at a critical point in its development, strengthening financial intermediation and helping to promote confidence in the banking system. The proposed equity investment in Ipak Yuli will also lend key support to the sector by promoting the adoption of strengthened operational policies and procedures based on international best practice standards, particularly in the areas corporate governance, internal controls, risk management, credit risk management, environmental and social safeguards, and anti-money laundering/and anti-corruption. The equity investment will also contribute to private sector development by helping to mobilize liquidity and channel it toward the most productive investments through the extension of credit.
Linkage to Country/Regional Strategy The 2006-2010 ADB Country Strategy and Partnership (CSP) for Uzbekistan identifies among its strategic priorities catalyzing private domestic and foreign investment through ADB's private sector operations. The CSP mentions that there are a number of potential transactions from the private sector operations side in the financial and infrastructure sectors. The proposed equity investment is well within the range of transactions envisioned by the CSP and the Country Operations Business Plan 2011-2013, which has again highlighted private sector development and financial sector development as key objectives.
Safeguard Categories
Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 25 Oct 2007
Credit Committee Meeting 07 Aug 2012
Approval 19 Oct 2012
PDS Creation Date 26 Oct 2007
Last PDS Update 30 Sep 2014

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Title Document Type Document Date
Proposed Equity Investment Joint-Stock Commercial Bank Ipak Yuli Reports and Recommendations of the President Sep 2012

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.

The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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