OJSC BANK ESKHATA
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
OJSC Bank Eskhata (BE) was founded in 1993 and is headquartered in Khujand, the regional capital of Northern Tajikistan. The bank offers a wide range of financial services including lending, deposit taking, foreign currency exchange, and money transfer. It specializes in lending to micro, small and medium-sized enterprises in Tajikistan, and is the country’s market leader in money remittance operations.
What is our funding objective?
Together with partner development finance institution DEG, a subsidiary of KfW in Germany, FMO is extending a senior loan of USD 18 million with a 5 year tenor and a 1.5 year grace period. FMO is providing USD 8 million under this facility. The facility is intended to be on-lent to small- and medium-sized enterprises (SMEs) in Tajikistan, and thereby support the economic development of the country.
Why do we fund this investment?
In Tajikistan the access to finance for SMEs is limited. BE is among the best parties to serve local SMEs in their financing needs. Commercial long-term funding is scarce in Tajikistan. The confidence reflected in the long tenor and large amount of the facility provided by DEG and FMO will help BE attracting long-term funding from other parties as well.
- Website customer/investment
- http://www.eskhata.com/
- Region
- Europe & Central Asia
- Country
- Tajikistan
- Sector
- Financial Institutions
- Effective date
- 10/7/2013
- End date
- 8/15/2017
- Total FMO financing
- USD 8.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B