We are proud to announce that our member Triodos Investment Management’s Microfinance Fund and the German Development Finance Institution (DEG) have invested close to USD 25 million in Ipak Yuli Bank, a universal commercial bank in Uzbekistan.
Both investors have acquired an equal minority stake in the share capital of the bank through an issuance of new shares. For both this represents their first equity investment in a bank in Uzbekistan. The investment will strengthen the capital base of Ipak Yuli and meet the vast financing needs of small- and medium-sized enterprises (SMEs) in Uzbekistan.
The Chairman of the Management Board of Ipak Yuli Bank, Mr Saidabror Saydakhmedov expressed that the knowledge and experience of their new shareholders will provide additional support in achieving significant improvements in the quality and efficiency of their bank’s operations. Also, this equity investment will help the institutional transformation, which was initiated under the assistance of the Asian Development Bank, Ipak Yuli Bank’s first development financial institution-shareholder.
Triodos Microfinance Fund’s investment in Ipak Yuli Bank will aid in supporting private sector entrepreneurship, and at the same time contribute to the development of Uzbekistan’s market economy. The fund is looking forward to assisting the bank in their continuing journey, expand their outreach, share their sustainable banking expertise, and participate in the bank’s governance and strategic development.
Triodos Investment Management is a globally active impact investor. They invest to generate social and environmental impact alongside a healthy financial return. They see impact investing as a driving force in the transition to a more inclusive and sustainable world. For more than 30 years, they have offered impact investment solutions that connect investors who want to make money work for positive change with innovative entrepreneurs and sustainable businesses that believe in the same.