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Swiss investment company provides new credit line to Uzbekistan’s bank

Finance Materials 20 November 2019 13:42
Swiss investment company provides new credit line to Uzbekistan’s bank

BAKU, Azerbaijan, Nov. 20

By Fakhri Vakilov - Trend:

The Swiss Symbiotics investment company has allocated a new credit line to the Uzbek Ipak Yuli bank in the amount of $10 million provided in Uzbek soums, Trend reports citing the Uzbek media.

In order to maintain the private sector and increase its share in economy of Uzbekistan, the credit line is designed to finance small business and private entrepreneurship projects.

In order to attract resources for this line, Symbiotics issued bonds denominated in Uzbek soums on the Luxembourg Stock Exchange.

The issuance of bonds in the national currency of Uzbekistan to fund Ipak Yuli bank will increase the interest of foreign portfolio investors and funds in the Uzbek market and attract additional resources to finance investment projects in the country

Registered in 2004 in Geneva, Symbiotics is an investment company specializing in sustainable financing for developing countries that offers services in the areas of market research, investment advice and asset management.

Since 2005, Symbiotics has invested more than $3.5 billion and currently operates in more than 70 emerging economies.

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