SMALL HYDROPOWER Loan

Equivalent to UZS 15 billion

loan amount

From 24% per annum in UZS

interest rate*

Up to 84 months

repayment term

Up to 18 months

grace period

Good to Know

Terms and Conditions

Purpose of the loan:

This loan product is intended for the following purposes:

construction of micro-hydroelectric power plants with a capacity of up to 5 MW;
development of electricity generation infrastructure and improvement of energy efficiency;
acquisition of new equipment and machinery for micro-hydroelectric power plants.

Interest rate:

Loans in UZS — from 24% per annum.
Loans in foreign currency — from 12% per annum.

The final interest rate is determined individually based on the financing terms and the Bank’s internal requirements.

Maximum loan amount:

Up to the equivalent of UZS 15 billion under the product terms

Type of financing:

Investment financing for the establishment, development, expansion and modernisation of a business

Designed for:

Micro, small and medium-sized enterprises

Loan term:

Financed from the Bank’s own funds — up to 84 months.
Financed from funds raised by the Bank — in accordance with the terms of the relevant funding source.

Loan currency:

UZS, USD

Grace period:

Up to 18 months

Loan security:

Property collateral and/or cash collateral covering at least 125% of the loan amount.
For related parties — 130% of the loan amount.
Primary security in the form of real estate and/or cash must cover at least 70% of the loan amount.
The remaining security may consist of fixed assets acquired with the loan proceeds.

Acceptable forms of property collateral:

Real estate that meets the Bank’s requirements.
Motor vehicles that have been in use for no more than 3 years.
Cash denominated in the loan currency.
Fixed assets acquired with the loan proceeds.

Additional forms of security:

Credit default risk insurance.
Guarantee provided by a third-party legal entity.
Guarantee provided by National Guarantee Company for Business Development JSC.

Additional requirements:

An electronic online auction protocol granting the right to construct a hydroelectric power plant.
The hydroelectric power plant must be constructed by a contractor holding the relevant licence issued by the Ministry of Construction.
A power purchase agreement with Energo Savdo LLC or one of its regional divisions.
A favourable opinion from the Sustainable Finance Department confirming that the project meets the eligibility criteria for a green project and the objectives of the loan product.

Restrictions applicable to Bank employees and their close relatives:

Financing may not be provided to enterprises in which Bank employees or their close relatives hold an ownership interest or perform management functions.

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Basic Project Requirements

A project financed under this loan product must meet the following requirements:

involve the construction of a micro-hydroelectric power plant with a capacity of up to 5 MW;
be aimed at developing electricity generation infrastructure or improving energy efficiency;
provide for the acquisition of new equipment and machinery for micro-hydroelectric power plants;
have an electronic online auction protocol granting the right to construct a hydroelectric power plant;
have a power purchase agreement with Energo Savdo LLC or one of its regional divisions for the sale of the electricity generated;
provide for construction work to be performed by a contractor holding the relevant licence issued by the Ministry of Construction;
have a favourable opinion from the Sustainable Finance Department confirming that the project meets the eligibility criteria for a green project and the objectives of the loan product.

Note: Loan funds will be disbursed only after all requirements set out in the product terms have been met.

List of Required Documents:

Completed loan application.
The borrower’s consent to provide collateral in accordance with applicable law. This requirement does not apply to private companies or business entities operating without forming a legal entity.
Balance sheet and statement of financial performance for the latest reporting period, submitted electronically. If the statements are submitted through DSI using Forms No. 1 and No. 2, no additional financial analysis is required.
Annual balance sheet and statement of financial performance. If the financial statements cover a shortened period rather than the entire reporting period, an additional balance sheet must be provided upon request.
Statements for accounts held with other banks, if applicable.
Contract for the purchase of assets from local or foreign suppliers, including specifications and a description of the equipment’s main characteristics, such as the model, quantity, country of manufacture, dimensions and other technical parameters.
Breakdown of the borrower’s accounts receivable and accounts payable.
Additional documents depending on the nature of the project.

SMALL HYDROPOWER Loan

Good to Know

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