Uzbekistan_Support to the Operationalization of the Uzbekistan Mortgage Refinancing Company

The objective of the assignment is to support the Government of Uzbekistan  to operationalize the Uzbekistan Mortgage Refinancing Company (UMRC) by developing constitutive documents, strategy, systems, and policies. The UMRC is envisaged to be a wholesale financial institution providing long-term finance to mortgage lenders. It issues bonds in the capital markets, and with the proceeds, provides long-term loans to mortgage lenders. It bridges the maturity mismatch which lenders face when trying to do long-term lending using their short-term deposits. It is therefore important that the constitutive documents, strategy, systems, and policies are developed in line with international best practices.

Qualifications: 

The Environmental and Social Safeguards specialist is expected to:

  • Prepare a monitoring framework for UMRC based on the requirements of the ADB Safeguard Policy Statement (SPS). The monitoring framework will aim to ensure that UMRC has a mechanism in place to confirm safeguards category C for all of its ADB-financed on-lending portfolio to PFIs;
  • Explore possible gender interventions and elements in the structure and design of the proposed UMRC;
  • Prepare an environmental and social safeguard screening checklist for the PFIs, to ensure only category C sub-projects are financed under the mortgage finance program;
  • Prepare a report template for the PFIs for their periodic monitoring to the UMRC on the sub-projects screenings results;
  • Conduct due diligence study on the PFIs’ existing portfolio in mortgage finance to assess potential environmental and social impacts and risks associated with the PFI’s existing and likely future portfolios; the purpose of such due diligence is to design and establish a mechanism to implement a screening procedure for the purposes of UMRC on-lending of ADB monies.
Start / Duration: 

The expected implementation of the Technical Assistance is from March 2019 to December 2020

If you are interested to cooperate with AFC Consultants please send you most recent CV to Barbara.Braun [at] afci.de  

Thank you