Netherlands’ Investment Company allocates subordinated loan to Uzbek bank
Baku, Azerbaijan, May 16
By Fakhri Vakilov- Trend:
The Netherlands investment company Triodos Investment Management allocated 3 million euros under the Subordinated Loan Agreement to Ipak Yuli Joint-Stock Innovative Commercial Bank of Uzbekistan, Trend reports with reference to Uzbek media.
In the current period of a rapidly growing economy of Uzbekistan, there has been a significant increase in demand for financing promising projects from business entities, the news report says. This long-term subordinated loan will allow Ipak Yuli Bank to expand its lending operations by increasing the bank’s capital base. The funds will be used to finance small businesses in support of the development of the private sector in Uzbekistan.
The agreement with Triodos is already the second subordinated bank loan from foreign financial institutions over the past six months.
Triodos Investment Management is one of the leading private equity firms in the world, which finances positive environmental impact and reduction of social inequality by supporting the private sector.
With 25 years of experience in the international financial sector, the company manages investments of more than 4 billion euros.
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