fbpx 53319-001: Rural Financial Inclusion for Women Project | Asian Development Bank

Kyrgyz Republic: Rural Financial Inclusion for Women Project

Nonsovereign (Private) Project | 53319-001 Status: Proposed

The transaction involves a loan of up to Som350,000,000 (about $5,000,000) to CJSC FINCA Bank (FBK) for the Rural Financial Inclusion for Women Project in the Kyrgyz Republic. The report also describes a technical assistance (TA) grant of up to $500,000 to FBK for Enhancing Rural Financial Inclusion for Women in the Kyrgyz Republic.

Project Details

Project Officer
Rohner, Tina Request for information
Country
  • Kyrgyz Republic
Sector
  • Finance
 
Project Name Rural Financial Inclusion for Women Project
Project Number 53319-001
Borrower/Company CJSC FINCA Bank
KYRGYZ INVESTMENT AND CREDIT BANK
Country Kyrgyz Republic
Location Nation-wide
Type or Modality of Assistance
Loan Ordinary capital resources USD 5.01 million Proposed
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Finance / Inclusive finance

Gender Equity and Mainstreaming Gender equity
Responsible ADB Department
Responsible ADB Division
Responsible ADB Officer Rohner, Tina
Project Sponsor(s)
Description The transaction involves a loan of up to Som350,000,000 (about $5,000,000) to CJSC FINCA Bank (FBK) for the Rural Financial Inclusion for Women Project in the Kyrgyz Republic. The report also describes a technical assistance (TA) grant of up to $500,000 to FBK for Enhancing Rural Financial Inclusion for Women in the Kyrgyz Republic.
Objectives and Scope The transaction entails the Asian Development Bank (ADB) providing medium-term financing in som to CJSC Finca Bank (FBK) to support micro and small enterprise lending targeting women in rural areas. The Technical Assistance (TA) to FBK will focus on building its branchless agent network in rural areas targeting hitherto unserved lower-income clients, with a specific focus on improving financial literacy and access to finance for women. The TA to NBKR will support banking introduction of Basel III prudential norms in the Kyrgyz Republic.
Linkage to Country/Regional Strategy The transaction is consistent with government efforts to promote the well-being of its citizens and ADB's country partnership strategy, 2018 2022 for the Kyrgyz Republic. This project contributes to ADB's efforts to achieve Sustainable Development Goal 5: achieving gender equality and empowering all women and girls.
Safeguard Categories
Environment FI-C
Involuntary Resettlement FI-C
Indigenous Peoples FI-C
Summary of Environmental and Social Aspects
Environmental Aspects FBK has in place an ESMS commensurate with the impacts and risks of its borrowers' activities in accordance with ADB''s Safeguard Policy Statement (2009) SPS requirements for financial intermediaries. FBK will revise its exclusion list in line with ADB''s PIAL and apply to all potential borrowers' applications. It will establish procedures to categorize borrower's activities according to ADB's SPS requirements in addition to its current social and environmental risk analysis, which already includes review against national environmental impact assessment requirements.
Involuntary Resettlement FBK sub-borrowers will be individuals borrowing funds for their business needs. Such loan finance cannot fund compulsory acquisition of land by government expropriation. Involuntary resettlement impacts through use of facility funds are therefore not anticipated.
Indigenous Peoples FBK sub-borrowers will be individuals borrowing funds for their business needs. This activity is not expected to directly or indirectly affect the dignity, human rights, livelihood systems, or culture of any ethnic minority or Indigenous Peoples groups.
Stakeholder Communication, Participation, and Consultation Potential borrowers will participate through extensive market research activity already undertaken by FBK in determining the most appropriate lending products. FBK has extensive national networks of branches and is building up an agent service network through which to engage and empower beneficiaries. Participation plans will not be prepared as FBK maintains strong public profiles through its branch presence and marketing that allow each of them to actively participate with civil society.
Timetable for assistance design, processing and implementation
Concept Clearance 29 Oct 2019
Credit Committee Meeting 20 Dec 2019
Approval 24 Mar 2020
Last PDS Update 25 Mar 2020

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 Access to Information Policy (AIP) 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.

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 Access to Information Policy (AIP) 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.