In compliance with the requirements of Asian Development Bank and Bank Supervisory Board, the Environmental and Social Risks Management System Provisions have been approved. These provisions have been developed in accordance with the Laws of the Republic of Uzbekistan "On Environmental Protection", "On Ecological Expertise", the State Ecological Expertise Provisions, the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 491 as of December 31, 2001, and the "Equator Principles". The main purpose of the provisions is to minimize the risks related to negative impact on the environment and society arising from the Bank's activities and the projects financed by the Bank. The provisions include project classification based on the international standards, project reviewing and approval procedures according to the above-mentioned classification, as well as environmental sensitive projects monitoring procedures.
For this purpose, at present the Bank is working on automation of the classification process for all lending operations depending on the level of project-related environmental and social risk exposure. It will enable the Bank to reduce the risks of the wrong identification.