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Environmental policy

Eco JSCB Hamkorbank adopted Environment and Social Protection Management System in 2012. According to it Hamkorbank ensures that design, construction, implementation, operation and dismantling of each selected project comply with the following:
  • All applicable current environmental, healthcare and safety laws and regulations in the Republic of Uzbekistan;
  • Environmental measures;
  • All measures (correcting measures) and requirements provided in relevant environmental assessments and plans.

Environmental Policy of the JSCB “Hamkorbank” is based on the following regulatory and legal framework:

  • Law of theRepublicofUzbekistan“ On Protection of nature” ;
  • Law of theRepublicofUzbekistan“On environmental due diligence”;
  • Resolution #491 of the Cabinet of the Ministers of theRepublicofUzbekistan “Regulations on State Environmental Due Diligence in theRepublicofUzbekistan” ;
  • Housing Code of theRepublicofUzbekistan;
  • Resolution #146 of the Cabinet of Ministers of theRepublicofUzbekistan“On confirmation of the regulations on procedures for compensating the citizens and the legal entities for acquisition of the lands for governmental and public needs”.

Integration into existing risk management procedures in following the environmental policy: 

Activities in managing E&S Risks Risk Assessment Procedures of the Bank Private Sector Investment Procedures
Screening of transactions Application for a loan Investment identification
Problem identification and the ways for solution of E&S Loan Consideration Detailed consideration of investment
Approvals and terms of finance Approvals and formalities for a loan Decisions on investment and contractual liabilities
Approvals and terms of finance Approvals and formalities for a loan Decisions on investment and contractual liabilities
Compliance Monitoring E&S Monitoring and reporting on a loan Investment management 

Environmental categories of the JSCB “Hamkorbank”:

Category  A  Significant environmental impacts;

Category  B  Less significant impacts, but they must be mitigated otherwise it may cause significant impacts;

Category  C  No environmental impacts, it is enough to take simple and direct mitigating measures.

Based on the abovementioned categories the screening of the projects is undertaken, which includes the following questions:

  1. Is the potential concerned project included in the “Prohibited Investment Activities List” of the JSCB “Hamkorbank”?
  2. Which category is a potential project related to in the opinion of the JSCB “Hamkorbank” and does it comply with the environmental project categories, which are based on the extent of impacts according to the legal and regulatory documents?


Prohibited Investment Activities List of the JSCB “Hamkorbank”:

  • Production or any activities which are detrimental to health;
  • Harmful or exploitative forms of forced labor or child labor;
  • Production of or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements or subject to international phaseouts or bans, such as:
    (a) pharmaceuticals, pesticides, and herbicides,
    (b) ozone-depleting substances,
    (c) polychlorinated biphenyls and other hazardous chemicals,
    (d) wildlife or wildlife products regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora, and
    (e) transboundary trade in waste or waste products;
  • Production of or trade in weapons and munitions, including paramilitary materials;
  • Production of or trade in alcoholic beverages, excluding beer and wine;
  • Production of or trade in tobacco;
  • Gambling, casinos, and equivalent enterprises;
  • Production of or trade in radioactive materials, including nuclear reactors and components thereof;
  • Production of, trade in, or use of unbounded asbestos fibers.