TajCREFF Bank Eskhata Loan

General

The EBRD is providing Bank Eskhata, a commercial bank established and operating in Tajikistan, a senior loan under the new Tajik Climate Resilience Financing Facility. TajCREFF is a pilot initiative that intends to support private sector investments in technologies which contribute towards development of climate resilience in Tajikistan. The initiative intends to break new ground in the emerging area of financing pro-business climate resilience measures in a country that is highly vulnerable to the impacts of the climate change. The EBRD is also considering a senior loan in Tajik Somoni to Bank Eskhata (MSME Loan) under the Financial Intermediary Framework. The new loan will provide Bank Eskhata with needed medium term funding in local currency, which remains scarce on the market. It will support Bank Eskhata's efforts in increasing local currency lending to micro, small and medium size enterprises ('MSMEs'). It will allow Bank Eskhata to participate and directly contribute to promotion of investments in technologies and measures which contribute towards development of climate resilience of the businesses and households, in particular investments in improved water and energy use, better land management and irrigation practices in agriculture sector. Bank Eskhata will benefit from dedicated technical assistance provided under the TajCREFF to all participating financial institutions.