The transaction is an equity investment in JSC Bank Ipak Yuli. To strengthen the effectiveness of the intervention, ADB will also be providing the Bank with technical assistance in such areas as corporate governance and internal controls, risk management, credit risk management, micro-credit and SME financing, and environmental and social safeguards (including tracking of gender benefits and the implementation of a gender action plan).
|Project Name||UZB: EQUITY INVESTMENTS IN IPAK YULI BANK|
|Borrower/Company||JSC BANK IPAK YULI
|Type or Modality of Assistance||
|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|
|Description||The transaction is an equity investment in JSC Bank Ipak Yuli. To strengthen the effectiveness of the intervention, ADB will also be providing the Bank with technical assistance in such areas as corporate governance and internal controls, risk management, credit risk management, micro-credit and SME financing, and environmental and social safeguards (including tracking of gender benefits and the implementation of a gender action plan).|
|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.|
Summary of Environmental and Social Aspects
|Stakeholder Communication, Participation, and Consultation|
Timetable for assistance design, processing and implementation
|Concept Clearance||25 Oct 2007|
|Due Diligence||19 Jun 2009|
|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.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|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.
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.
Requests for information may also be directed to the InfoUnit.