Tashkent, Uzbekistan, Jan. 8
By Mamed Dashdemirov – Trend:
By early 2018, customers of Uzbekistan’s Hamkorbank JSCB timely repaid debts worth $13 million on investment borrowings within the credit line of the Netherlands Development Finance Company (FMO), or Dutch development bank, opened in 2012, the press service of the bank told Trend.
The loans were issued in the amount of not more than $1 million per borrower with an interest rate based on the Libor rate plus 8 percent with a grace period of no more than 12 months. The accrued interest was paid monthly, and the payment on the principal debt was made every six months.
Investment loans of the FMO were secured by deposits in foreign currency, movable and immovable property, equipment and other liquid assets, as well as guarantees of banks, insurance companies and other guarantees of third parties.
The FMO credit line is renewable, so former borrowers may continue to use its resources, and new customers may apply for investment loans of the Dutch bank.
Hamkorbank was founded in 1991. The bank’s head office is located in Andijan region. The bank has a representative office in Tashkent and a network of branches and mini-banks in all regions of Uzbekistan. The main directions of the bank’s business include lending to small and medium-sized enterprises and individual entrepreneurs.
FMO was founded in 1970 and is a public-private partnership, with 51 percent of shares held by the Dutch state and 49 percent held by commercial banks, trade unions and other members of the private sector.