Project description
and objectives:
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The proposed project will assist leading non-bank Microfinance Institutions
(MFIs) to expand and improve their lending technology so as to increase access
to finance for the smallest of borrowers across the Early Transition Countries
(ETCs) of Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Tajikistan
and Uzbekistan.
The bank will extend loans directly to regulated MFIs which will on-lend funds
to entrepreneurs and other sub-borrowers.
The overall objective of this Framework is to assist the non-bank MFIs in
their commercialisation process which will ensure their long term
sustainability.
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Sub-projects:
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- ETC Non-Bank MFI FW - IMON
- ETC Non-Bank MFI FW - Bai-Tushum
- ETC Non-Bank MFI FW - Finca Micro Credit Company
- ETC Non-Bank MFI FW - Rural Finance Corporation
- ETC Non Bank MFI FW - CredAgro
- ETC Non-Bank MFI FW - Shore Overseas (MSE)
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Transition impact:
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The transition impact is expected to be high to excellent. The project will
have two main forms of transition impact. It will:
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contribute to the strengthening and commercialisation of financially viable
non-bank MFIs
-
increase the availability of finance to those micro-enterprises that would not
normally be target borrowers for commercial banks.
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The client:
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Regulated, well-established non-bank MFIs, legally incorporated in the ETCs
will be eligible for financing under this Framework.
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EBRD finance:
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The Framework is for USD 10 million in the form of senior loans to non-bank
MFIs. Individual loan sizes will be from USD 0.3 million to USD 2 million.
It is anticipated that up to USD 3 million may be provided in co-financing
funds.
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Total project cost:
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USD 11,113,600 including possible co-financing and funds for technical
assistance.
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Environmental impact:
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Screened FI.
The non-bank micro-finance institutions (MFIs) will be required to comply with
the EBRD’s Environmental Procedures for Small and Micro Loans which require
adherence to the EBRD’s Environmental Exclusion and Referral List. The MFIs
must ensure that borrowers are compliant with relevant national regulations
and standards for environment, health and safety and submit Annual
Environmental Reports to the EBRD.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Sabina Dziurman, e-mail:
dziurmans@ebrd.com
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EBRD contact:
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Tony Myron, Operation Leader: myront@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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