BAKU, Azerbaijan, Nov. 19
Abu Dhabi Uzbek Investment company has opened a long-term financing line in the amount of $10 million in Kapitalbank JSCB for the development of small and medium-sized business projects, Trend reports with reference to podrobno.uz.
A financing agreement for a period of five years was signed on Nov. 19.
Abu Dhabi Uzbek Investment joint venture was established in July 2019 upon the Uzbek president’s decree with the participation of the Fund for Reconstruction and Development of Uzbekistan and the Abu Dhabi Fund for Development with the announced capital of $1 billion.
Today's signing of an agreement between Kapitalbank and Abu Dhabi Uzbek Investment was the first stage in the development of long-term relationships.
Over the past six months, Kapitalbank pays special attention to the financing of small business and entrepreneurship projects worth up to $100,000.
For these purposes, the bank has greatly simplified the process of collecting and formalizing the necessary documents, while making a decision on financing is based on real assessment of business performance, rather than on formal accounting reports.
At the same time, the decision-making process by the bank takes five days. Such efficiency, along with an informal approach to the project evaluation, turned out to be in great demand among entrepreneurs and the business community.