Uzbek company’s shareholders approve terms of EBRD credit line

Business Materials 9 January 2018 13:08 (UTC +04:00)

Tashkent, Uzbekistan, Jan. 9

By Mammad Dashdemirov – Trend:

The terms of a credit line of the European Bank for Reconstruction and Development (EBRD) were approved in the amount of $10 million at an extraordinary meeting of shareholders of Uzbek Leasing International JSC, the management of the leasing company told Trend.

An agreement on the opening of a credit line is expected to be signed with EBRD till the end of January 2018. The funds will be used to finance the projects of small business and private entrepreneurship.

EBRD already opened a credit line for Uzbek Leasing International Company in the amount of $3 million in 2007.

Uzbek Leasing International Company was established in 1995. Presently, it is one of the ten biggest leasing companies in Uzbekistan. The National Bank for Foreign Economic Affairs of Uzbekistan with 41.6 percent of shares, Uzbek-Oman Investment Company - 38.7 percent and Malaysia’s Maybank - 19.7 percent are the founders of the company.

The assets of Uzbek Leasing International Company increased by 1.8 times and reached 286.3 billion soums in January-September 2017. The company's net profit increased by 10.9 percent and amounted to 15.2 billion soums in January-September 2017 compared to the same period of 2016.

(8,139.00 UZS = $1 on Jan. 9)